Strategy Raises $715 Million in Europe to Buy More Bitcoin
Strategy raised $715 million through its latest offering of preferred shares, known as STRE, aimed at European investors. This new share class is designed to pay regular dividends and will be listed on the Euro MTF Luxembourg exchange. The preferred shares are priced at €80 ($93) each, lower than the initially expected €100 ($116). The funds raised will be used for general expenses, including the acquisition of more Bitcoin. Currently, Strategy holds approximately 641,205 Bitcoin worth about $64.6 billion. Despite recent fluctuations in Bitcoin's price, which dipped below $100,000, Michael Saylor, co-founder of Strategy, remains focused on expanding the company’s Bitcoin holdings rather than selling any. The STRE offering signifies Strategy’s first move into the European market for digital credit instruments, potentially enhancing its investment appeal in foreign markets and providing it with a diversified funding strategy without relying solely on common stock issuances.
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