Bitcoin fell as low as $74,591 on Sunday, its lowest level since President Donald Trump was re-elected on a pro-crypto platform in the U.S. 14 months ago. Strategy’s stock price surged as high as $543 in the following weeks, but it has fallen 74% since then.
In the press release, Strategy signaled that it had purchased roughly 900 Bitcoin over the last week at an average cost of around $88,000 per Bitcoin. The increase in its holdings was funded though the issuance of common stock, without Strategy selling any preferred shares to investors.
As Strategy sold its variable rate, or STRC, preferred shares to investors earlier this month, it notched back-to-back weeks where it bought over $1 billion worth of Bitcoin. However, the company’s latest acquisition marks its smallest buy since the beginning of December.
On Saturday, Strategy co-founder and Executive Chairman Michael Saylor said on X that the company was raising STRC’s dividend rate by 25 basis points to 11.25%. That means it will cost more for Strategy to raise money to buy Bitcoin with the product moving forward.
Epstein mentionSiegal recalled a gala dinner for a group of independent filmmakers that took place in 2010, where Saylor supposedly contributed $25,000 to pay for food “and the opportunity to get his name on [the] invite and meet a hip group.”
She went on to describe Saylor as “a complete creep” with “no personality,” whose demeanor was comparable to a “zombie on a drug.”
“We had smart directors sitting next to him and his idiot gorgeous date, and could not get any conversation out of him except, ‘I have a yacht I am taking to Cannes,’” she continued.
Siegal wrote that she was so put off by Saylor that she eventually “ran away from him,” arguing that the disconnect was too much to be able to “take his money and deliver a better life because he has no feel for social behavior.”
Decrypt has reached out to Siegal and Strategy for comment.
