Michael Saylor Reveals Why Wall Street Prefers Cash to Bitcoin
BTC when published $81,960Now $80,595 ▼ −1.67% since it was published
Michael Saylor says Bitcoin backing alone could not keep Strategy’s 12% yield preferred stock at its $100 target. Instead, credit investors wanted a cash cushion before they returned. The Strategy executive chairman made the admission at ParaFi Investor Day. Yet in the same talk, he called digital credit the strongest credit in the world. Why Bitcoin Collateral Was Not Enough for Credit Buyers Stretch (STRC) is Strategy’s perpetual preferred stock. It pays a 12% annual dividend and targets a $100 share price. However, STRC slipped below par early in the summer and later fell to roughly $75. Strategy responded with a US dollar dividend reserve and a share buyback program.
First reported by BeInCrypto. This page is a short excerpt; the full text is theirs.
