In a most exhilarating turn of events, a dazzling new bitcoin-backed equity has burst onto the Nasdaq stage, propelling Strategy’s ambitious crypto accumulation plans into the stratosphere and igniting a veritable frenzy among investors clamoring for high-yield digital asset exposure. Who knew finance could be this thrilling? 🎢
STRD Now Trading on Nasdaq as Strategy Expands Its Bitcoin-Backed Empire
Our dear friends at Microstrategy (Nasdaq: MSTR), now rebranded as the ever-so-chic Strategy, have unveiled their third tranche of bitcoin-collateralized preferred equity. Yes, you heard it right! Trading has kicked off for the new issue—ticker symbol STRD—on the illustrious Nasdaq exchange. Hold onto your hats, folks! 🎩
Strategy has secured a staggering $980 million in net proceeds after underwriting and issuance costs, following an upsized offering of 11.76 million shares at $85 each. This was all thanks to a veritable stampede of institutional demand, which, I daresay, exceeded the original $250 million target. Executive Chairman Michael Saylor, ever the social media maven, took to platform X on June 11 to announce:
STRD begins trading on Nasdaq today. It’s the third in our series of bitcoin-backed preferred stocks—designed for fixed income, secured by BTC, and issued by Strategy. Toodle-oo! 🥳
In a bid to diversify its capital structure, the firm now juggles three preferred equity instruments: STRK, STRF, and STRD, each crafted with the utmost care to finance additional bitcoin acquisitions. STRK boasts an 8% cumulative dividend and a conversion option into common shares—how delightfully flexible! STRF, on the other hand, offers a 10% cumulative yield, remains non-convertible, and holds the highest liquidation priority across the preferred suite. STRD, bless its heart, distributes a 10% yield on a non-cumulative basis, is generally non-callable, and carries the highest risk profile—perfect for those thrill-seeking investors who enjoy a bit of a gamble! 🎲
Strategy plans to use the proceeds to expand its cryptocurrency holdings, which have now reached a jaw-dropping 582,000 BTC, making it the largest publicly held bitcoin treasury. This latest capital raise is a testament to the firm’s unwavering commitment to a digital asset accumulation strategy that appeals to a variety of investor risk appetites. Quite the buffet, if I may say so! 🍽️
Looking into his crystal ball, Saylor predicts bitcoin will soar to $1 million in the near term and a staggering $13 million by 2045. He attributes this optimistic outlook to limited supply, growing institutional inflows through exchange-traded fund (ETF) channels, and rising corporate treasury adoption. Recently, he declared himself even more bullish on the $13 million projection. Referring to bitcoin as “digital gold,” Saylor insists that strengthening regulatory clarity and the protocol’s inherent resilience will eliminate the prospect of an extended market decline, often referred to as a “crypto winter.” Who needs winter when you have a summer of profits? ☀️💸
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2025-06-12 00:57