Strategy CEO eyes more preferred stock to fund Bitcoin buys
Strategy CEO Phong Le says the company is moving away from issuing and selling common stock to buy Bitcoin and isn’t interested in acquiring Bitcoin treasuries.
Bitcoin treasury company Strategy will further lean on its preferred stock sales to acquire Bitcoin, shifting from its strategy of selling common stock, says CEO Phong Le.
“We will start to transition from equity capital to preferred capital,” Le told Bloomberg’s “The Close” on Wednesday.
Stretch (STRC) is Strategy’s perpetual preferred stock, launched in July, and is aimed at buyers looking for stability by offering an annual dividend of over 11%.