MicroStrategy’s sale of coins is to stabilize the price of its preferred stock, STRC.


So far, it has sold 3,588 coins and cashed out $216 million.
MicroStrategy will repurchase $10 billion of its preferred stock, with funds sourced from selling Bitcoin. According to the announcement, it will sell up to $12.5 billion worth of Bitcoin, meaning it will sell another $10 billion worth of Bitcoin next.
Only by stabilizing STRC’s anchored price can MicroStrategy raise funds to continue buying coins.
BTC1.72%
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