Latest news with #STRD
Yahoo
08-07-2025
- Business
- Yahoo
Strategy Holds 11th Largest U.S. Corporate Treasury, Bitcoin Rivals Big Cash Reserves
Disclaimer: The analyst who wrote this article has shares in Strategy (MSTR).Strategy (MSTR) now holds almost $65 billion in bitcoin (BTC), which makes it the 11th largest corporate treasury holder of bitcoin in the U.S. In its investor presentation for the new STRD at-the-market equity program, Strategy compares itself to companies that hold cash on their balance sheets. Berkshire Hathaway ranks No. 1, holding $410 billion in cash and cash equivalents. Chipmaker NVIDIA (NVDA), the world's largest company by market cap, holds $66 billion in cash and cash equivalents. In the presentation, MSTR said it is on track to achieve both its bitcoin percentage yield and bitcoin dollar gain targets for 2025. The target for bitcoin yield is 25%, and so far it has reached 19.7%. The dollar gain target is $15 billion, and that currently stands at $9.6 billion. Strategy also achieved an unrealized gain on digital assets of $14 billion in the second quarter. MSTR's perpetual preferred stock has outperformed the iShares Preferred and Income Securities ETF (PFF), which the Tysons Corner, Virginia company identified as its benchmark. STRK is up 51% since its Jan. 31 debut, while the PFF has lost 3%. STRF, which started trading March 21, has gained 38% versus a 1% drop in PFF. STRD is 12% higher, outpacing PFF's 2% advance. As part of Strategy's current $42 billion fundraising plan, it has issued $23.9 billion. It also has $34.1 billion of fixed income capacity left within the plan. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-07-2025
- Business
- Yahoo
Strategy Books $14B Q2 Bitcoin Profit, Sets $4.2B STRD Preferred ATM Offering
Michael Saylor-led Strategy (MSTR) expects to report a second quarter $14.05 billion gain on its bitcoin holdings of more than 500,000 coins as the price of BTC rose from around $82,000 to $108,000 during the three months ended June 30. The company during the second quarter raised $6.8 billion in net proceeds through various capital markets activities, including preferred stock offerings and at-the-market sales of class A common stock, according to a Monday morning filing. As of June 30, Strategy said it retained significant capacity for future issuances, with $18.1 billion remaining under the 2025 Common ATM, $20.5 billion under the STRK ATM, and $1.9 billion under the STRF ATM. Subsequently Monday morning, Strategy announced it has entered into a sales agreement allowing it to issue and sell up to $4.2 billion of its 10% Series A Perpetual Stride Preferred Stock, known as STRD, under an at-the-market offering program. Strategy plans to sell STRD Stock over time, factoring in the trading price and volumes at each sale. Proceeds from the ATM Program are earmarked for general corporate purposes, including acquiring bitcoin BTC, supporting working capital needs, and potentially paying dividends to holders of its 10% Series A Perpetual Strife Preferred Stock and 8.00% Series A Perpetual Strike Preferred Stock. STRD shares are up 6% since their launch on June 11. MSTR is lower by 1.2% in premarket trading on Monday as bitcoin slips a hair from late last week, trading at $108,300.
Business Wire
07-07-2025
- Business
- Business Wire
Strategy Announces $4.2 Billion STRD At-The-Market Program
TYSONS CORNER, Va.--(BUSINESS WIRE)--Strategy™ (Nasdaq: MSTR; STRK; STRF; STRD) today announced that it has entered into a sales agreement pursuant to which Strategy may issue and sell shares of its 10.00% Series A Perpetual Stride Preferred Stock, $0.001 par value per share (the 'STRD Stock'), having an aggregate offering price of up to $4.2 billion (the 'ATM Program'). Strategy expects to make sales of STRD Stock pursuant to the ATM Program in a disciplined manner over an extended period, taking into account the trading price and trading volumes of the STRD Stock at the time of sale. Strategy intends to use the net proceeds from the ATM Program for general corporate purposes, including the acquisition of bitcoin and for working capital, and may also use the net proceeds for the payment of dividends to holders of its 10.00% Series A Perpetual Strife Preferred Stock, $0.001 par value per share and 8.00% Series A Perpetual Strike Preferred Stock, $0.001 par value per share. The STRD Stock, subject to the terms and conditions of the sales agreement, may be sold by agents by any method that is deemed an 'at the market offering' as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended or any other method permitted by law, which may include negotiated transactions or block trades. The sale of STRD Stock under the ATM Program is only offered pursuant to a prospectus supplement, filed with the Securities and Exchange Commission on July 7, 2025 under the existing automatic shelf registration statement, which became effective on January 27, 2025 (File No. 333-284510), and the base prospectus contained therein. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, STRD Stock, nor shall there be any sale of STRD Stock in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. About Strategy MicroStrategy Incorporated d/b/a Strategy (Nasdaq: MSTR/STRK/STRF/STRD) is the world's first and largest Bitcoin Treasury Company. We are a publicly traded company that has adopted Bitcoin as our primary treasury reserve asset. By using proceeds from equity and debt financings, as well as cash flows from our operations, we strategically accumulate Bitcoin and advocate for its role as digital capital. Our treasury strategy is designed to provide investors varying degrees of economic exposure to Bitcoin by offering a range of securities, including equity and fixed-income instruments. In addition, we provide industry-leading AI-powered enterprise analytics software, advancing our vision of Intelligence Everywhere. We leverage our development capabilities to explore innovation in Bitcoin applications, integrating analytics expertise with our commitment to digital asset growth. We believe our combination of operational excellence, strategic Bitcoin reserve, and focus on technological innovation positions us as a leader in both the digital asset and enterprise analytics sectors, offering a unique opportunity for long-term value creation. Strategy, MicroStrategy, and Intelligence Everywhere are either trademarks or registered trademarks of MicroStrategy Incorporated in the United States and certain other countries. Other product and company names mentioned herein may be the trademarks of their respective owners. Forward-Looking Statements Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute 'forward-looking statements' within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the at-the-market offering of the STRD Stock. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would,' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the uncertainties related to the sales made pursuant to the offering program, if any, market conditions and the other factors discussed in the 'Risk Factors' section of Strategy's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 5, 2025, the factors discussed under the header 'Risk Factor Updates' in the current report on Form 8-K filed by Strategy with the Securities and Exchange Commission on July 7, 2025 and the risks described in other filings that Strategy may make with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Strategy specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Yahoo
12-06-2025
- Business
- Yahoo
Strategy Launches STRD, Its Third 'Bitcoin-Backed' Preferred Stock on Nasdaq
Strategy (MSTR) has officially launched trading of its third "bitcoin-backed preferred stock", STRD, on the Nasdaq, with shares making their debut on Wednesday. The new security, formally named the 10% Series A Perpetual Stride Preferred Stock (STRD), closed the day slightly higher, gaining 0.24%. STRD offers a fixed 10% annual dividend, making it the highest-yielding instrument among Strategy's capital offerings, which also include STRF and STRK. Unlike those, STRD is non-convertible and non-cumulative, meaning dividends are paid only when declared by the board and do not accrue if missed. Despite this added risk, the product is positioned to attract long-term investors seeking strong yield with no management fees. Strategy aims to raise nearly $1 billion through the offering by selling 11.76 million shares at $85 each. Net proceeds are expected to total around $979.7 million after fees and expenses. According to the company, the funds will be used for general corporate purposes, and further accumulation of bitcoin. Investor interest appears strong, including from inside the company. Board member Jarrod Patten disclosed the purchase of 5,000 STRD shares. Patten already holds 28,000 shares of MSTR Class A common stock and 10,000 shares of STRF, another preferred security issued by the in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-06-2025
- Business
- Yahoo
Short seller Jim Chanos calls out Michael Saylor's MicroStrategy
Short seller Jim Chanos calls out Michael Saylor's MicroStrategy originally appeared on TheStreet. A new fiasco is emerging on Wall Street between famous short-seller Jim Chanos and Bitcoin maximalist Michael Saylor, executive chairman of Strategy (formerly MicroStrategy). Chanos has focused on the company's high market premium relative to its Bitcoin holdings, suggesting that traders should consider shorting the stock and buying Bitcoin directly. But Saylor is not taking it lying down. In a Bloomberg TV interview on Tuesday, he crudely dismissed Chanos's thesis, saying, "I don't think he understands what our business model is," referring to Chanos. "We're not a passive holding company or trust. We're an operator; we're not a passive financial innovator." Chanos' call-out focused on the company's high premium to net and its historic premium, at times exceeding 200%, to its Bitcoin reserves, which he saw as an arbitrage opportunity. In contrast, Saylor defended the use of the Strategy's structure, arguing that it provided tremendous financial leverage. "We're actually the largest issuer of Bitcoin-backed credit instruments in the world," he said. The company has raised nearly $1 billion through high-yield preferred stock backed by Bitcoin — STRK, STRF, and STRD — with STRD commencing trading on Nasdaq today. Saylor stated that these instruments enable Strategy to capitalize on the delta between low-cost capital (a 10% yield) and Bitcoin's long-term growth rate (since mid-2020 at a 57% compound annual growth rate), thereby creating an effective 47% return spread for its shareholders. "If the stock trades at a weak premium, we're just going to sell the preferred and buy back common shares," Saylor warned. "If the stock rallies, [Chanos] is going to get liquidated and wiped out." Chanos didn't immediately reply to Saylor's comments. However, on June 10, Chanos took to X and said: "This is, of course, complete financial gibberish. Mr. Saylor wants you to value his business based not only on the net value of his Bitcoin holdings (NAV) at market, but additionally with a multiple on the change in that NAV! Because now he can leverage his balance sheet, lol." He likened it to saying a house worth $500,000 is worth $1.5 million, because its value had increased by $50,000, and applied a multiple of 20 times that gain. Chanos also stated that Saylor's so-called "infinite money glitch" had a minimal impact on Strategy's market-to-net-asset-value (mNAV), which had remained flat at approximately 1.8x (i.e., unchanged since the company began aggressively accumulating Bitcoin in 2020). As of June 11, Strategy's mNAV stands at 1.86, unchanged from the previous month. Short seller Jim Chanos calls out Michael Saylor's MicroStrategy first appeared on TheStreet on Jun 11, 2025 This story was originally reported by TheStreet on Jun 11, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
