Strategy CEO Phong Le announced that the firm will expand its offering of “Stretch” perpetual preferred shares to mitigate stock volatility. This new series promises an 11.25% monthly reset dividend and aims to maintain a stable price of $100. The move is part of Strategy’s broader shift from equity capital to preferred capital, which supports its ongoing strategy of utilizing raised capital primarily for Bitcoin purchases, reinforcing its position in the cryptocurrency market.
Strategy CEO announces expansion of ‘Stretch’ preferred shares to curb stock volatility
