“With the perpetual preferred share STRC now trading at par, Strategy may unlock a new path to acquire bitcoin through its at-the-market program.”, — write: www.coindesk.com
The milestone is significant because it enables Strategy, the largest holder of bitcoin BTC$103,260.23to utilize its at-the-market (ATM) offering against STRC to buy more of the largest cryptocurrency. STRC, described by the company as a short-duration, high-yield credit instrument, currently offers an annualized 10.5% return, paid monthly in cash.
The ATM, established on July 31, had been on hold because the instrument was not trading at par. The company raised STRC’s dividend rate, initially at 9%, to help push the trading price toward the $100 par value. According to the latest 8-K filing, the company has $4.2 billion in available capacity for share issuance.
Strategy has already used ATM sales on its other three perpetual preferred products — STRK, STFR and STRD — as well as its common stock to fund bitcoin purchases.
MSTR common shares have fallen 15% this year to around $253. With the multiple to net asset value (mNAV) hovering near 1.3, Saylor’s ability to issue perpetual preferred stock successfully will be key to continuing the company’s bitcoin accumulation in a non-dilutive manner.
STRC is up 0.5% in pre-market trading at $100.50 per share, while MSTR is down 1%.
A deep dive into Zcash’s zero-knowledge architecture, shielded transaction growth, and its path to becoming encrypted Bitcoin at scale.
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- The Zashi wallet made shielded transfers the default, pushing privacy from optional to standard practice.
- Project Tachyonled by Sean Bowe, aims to boost throughput to thousands of private transactions per second.
- Zcash surpassed Monero in market share, becoming the largest privacy-focused cryptocurrency by capitalization.
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The token defended its ascending channel structure despite distribution pressure at the upper boundary, keeping short-term bias neutral-to-bullish above $0.16.
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