Markets· ★★★★· bearish·

Bitcoin treasury financing under strain as Strategy and Strive turn to high-yield preferreds

  • —Strive raised $630 million in preferreds at an effective yield near 17%
  • —The offering came in about 25% above the original plan
  • —Strategy's 12% STRC preferred has not been issued since June
  • —Strategy funds BTC purchases with common stock sales, diluting holders
Why it matters: Rising cost of capital for bitcoin treasuries could slow corporate BTC buying and weigh on the shares of such companies.
#BTC
Source: PANews
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