Strategy reported its largest Bitcoin purchase in over 16 months on Monday, scooping up $2.54 billion worth of BTC last week as traders snapped up its flagship preferred share to receive an upcoming dividend.
The Bitcoin-buying firm announced that it had issued nearly $2.2 billion worth of STRC, Strategy’s dividend-paying preferred share, which currently pays 11.5% in monthly dividends and is designed to trade around the $100 mark.
STRC’s ex-dividend date passed last Wednesday, representing the day on which investors buying the dividend-paying product no longer receive the next scheduled payment. Leading up to that threshold, STRC traded at or above the $100 mark for 10 straight trading days, indicating that the preferred share now valued at $8.5 billion saw consistent demand.
