Strategy's STRC Issuance Approaches $28.3 Billion Cap, May Slow Bitcoin Accumulation

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On May 14, Delphi Digital released a report indicating that Strategy’s variable rate Series A perpetual preferred stock STRC has an authorized issuance cap of approximately $28.3 billion. If this figure is reached without an expansion of the cap, Strategy’s rate of Bitcoin accumulation may slow down. On Monday, Strategy purchased 535 Bitcoins for $43 million, with most of the funding raised through the sale of Class A common stock MSTR. Currently, Strategy’s market net asset value is 1.25 times. Researchers noted that when mNAV is low, Strategy uses STRC as the primary accumulation tool, and if mNAV expands, it may acquire Bitcoin through the sale of MSTR. Strategy has a cash reserve of $2.25 billion, with the next significant cash obligation due in September 2027.

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