This article first appeared on GuruFocus.
Bitcoin's (BTC-USD) latest selloff is turning into something more than a price chart story for Strategy Inc. (NASDAQ:MSTR)it's becoming a financing story. The company's preferred shares have been sliding in lockstep with the crypto slump, including a $1.2 billion 10% series that was priced at 85 cents in June and now trades at 66 cents, pushing the yield to 15% based on Bloomberg data. For a firm that has issued almost $7 billion of preferred stock this yearstock carrying nearly $700 million in annual dividendsthe market is signaling that future issua
Bitcoin's (BTC-USD) latest selloff is turning into something more than a price chart story for Strategy Inc. (NASDAQ:MSTR)it's becoming a financing story. The company's preferred shares have been sliding in lockstep with the crypto slump, including a $1.2 billion 10% series that was priced at 85 cents in June and now trades at 66 cents, pushing the yield to 15% based on Bloomberg data. For a firm that has issued almost $7 billion of preferred stock this yearstock carrying nearly $700 million in annual dividendsthe market is signaling that future issua
30 days ago
