Michael Saylor, founder of MicroStrategy, the top Bitcoin holder among U.S. listed companies, announced around 4 a.m. today (30th) on the X platform that MicroStrategy added a position by purchasing 21,021 Bitcoins for $2.46 billion, with an average cost of $117,256.
Currently, MicroStrategy's Bitcoin holdings have reached 628,791 coins, accounting for about 3% of global circulation. The market value is estimated at nearly $80 billion, far higher than the cumulative cost of $46.8 billion.
Funding Source and Operation Rhythm
MicroStrategy also submitted an official press release yesterday, announcing that it raised $2.521 billion through the STRC Perpetual Preferred Stock IPO, which is currently the top in the U.S. this year and breaks the largest perpetual preferred stock record since 2009.
STRC issued 28,011,111 shares at $90 per share. The variable rate and perpetual design allow the company to obtain cash without diluting common stock while maintaining capital flexibility. The issuance was jointly managed by Morgan Stanley, Barclays, Moelis & Company, and TD Securities. The gathering of Wall Street first-tier institutions reflects support for MicroStrategy's model.
STRC Perpetual Preferred Stock Design
STRC's dividend target is 9% annually, paid monthly, with the interest rate floating based on the 1-month SOFR. The board can adjust by 0.25% monthly based on stock price, aiming to stabilize at $100. The deferral clause allows the company to suspend dividend payments during cash constraints.
Investors get two layers of protection: priority dividend ranking higher than common stock and the ability to share in Bitcoin appreciation. The structure blurs asset boundaries, allowing conservative funds to access crypto themes through dividend instruments.
Bitcoin Drops Below $118,000
Despite MicroStrategy's continued position increase, Bitcoin price is still fluctuating at its high point. After breaking through $119,000 yesterday (29th), it dropped again during U.S. stock market opening hours, reporting at $117,795 before press time, down 0.48% in the past 24 hours.
Additionally, the Federal Reserve will announce its latest interest rate decision at 2:00 AM Taiwan time on the 31st. While the market generally expects rates to remain unchanged, there is still potential volatility risk that investors should be aware of.
- Dow Jones Industrial Average dropped 204.57 points, or 0.46%, closing at 44,632.99 points.
- Nasdaq Index dropped 80.29 points, or 0.38%, closing at 21,098.29 points.
- S&P 500 Index dropped 18.91 points, or 0.3%, closing at 6,370.86 points.
- Philadelphia Semiconductor Index rose 2.69 points, or 0.047%, closing at 5,739.79 points.
