IDF head: Went on offensive because reached point of no return

IDF head: Went on offensive because reached point of no return

Title: Strategy Upsizes STRD Stock Offering to $1 Billion

Strategy, formerly known as MicroStrategy, has significantly increased its offering of perpetual Stride preferred stock, or STRD, to $1 billion from the originally planned $250 million. This move, announced via a company blog post on Friday, is part of Strategy’s ongoing strategy to bolster its Bitcoin holdings.

The STRD offering will be priced at $85 per share, with investors set to receive a 10% non-cumulative dividend. The proceeds from the offering will amount to $979 million, which Strategy plans to add to its existing Bitcoin stockpile. As of now, Strategy holds approximately 580,995 Bitcoin, valued at $60.9 billion based on the current price of $104,638 per Bitcoin [1].

STRD represents the third form of preferred stock issued by Strategy this year, joining STRF and STRK. Each offering has unique features: STRD does not allow for the accrual of missed dividend payments and cannot be converted into common shares. It is non-callable for life, meaning it has no associated maturity date. Michael Saylor, co-founder and Executive Chairman of Strategy, described STRD as a high-yield credit instrument, stating that it should provide higher yields compared to STRK or STRF [1].

During a presentation, Saylor indicated that STRD has limited sensitivity to Bitcoin’s price and ranks behind STRF and STRK holders in terms of seniority but ahead of common shareholders. He highlighted that STRD represents the fourth gear in Strategy’s “Bitcoin engine,” which aims to generate BTC torque through surgical management of its at-the-money offering programs [1].

Strategy’s stock price has been volatile, rising as high as $377.80 during pre-market trading on Friday and trading around $378.26 by the end of the day, representing a 2.6% increase [1].

Reference List:
1. [https://decrypt.co/323988/strategy-upsizes-strd-stock-offering-1-billion-buy-bitcoin](https://decrypt.co/323988/strategy-upsizes-strd-stock-offering-1-billion-buy-bitcoin)