Overview
- Michael Saylor hinted at another purchase with a 'More Orange' post, though common and preferred shares trading weakly likely capped at‑the‑market issuance.
- Strategy holds about 712,647 BTC at an average cost near $76,038, with Bitcoin around $77–78k after a weekend dip that briefly pushed the position below cost.
- The STRC dividend was lifted by 25 basis points to 11.25% for February as the preferred stayed under its $100 par, limiting issuance through that ATM program.
- The company reports $2.25 billion reserved for preferred dividends, which total roughly $887 million annually across its perpetual offerings.
- Management emphasizes unencumbered bitcoin and long‑dated convertible debt to minimize forced‑selling risk, while critics question the sustainability of cash payouts.