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Stock impact report

Strategy purchases another $76 million worth of Bitcoin, all through sales of common stock [Fortune]

StoneX Group Inc. (SNEX) 
Company Research Source: Fortune
The purchase follows one from the week prior worth $1.6 billion, which the company funded primarily through its “Stretch” perpetual preferred shares. Recommended Video One analyst says that the company will get back to buying more Bitcoin and do so through its sale of these “Stretch” perpetual preferred shares, known as STRC. “While the cadence and size of Strategy's Bitcoin purchases will likely remain uneven on a week-to-week basis, reflecting market conditions and opportunistic timing, we fully expect the company to aggressively lean into its Bitcoin acquisition strategy as demand for its STRC perpetual preferred stock increases,” said Mark Palmer, senior equity research analyst at The Benchmark Company. Strategy, run by executive chairman Michael Saylor, is a digital asset treasury—a company whose sole purpose is to acquire and hold on to vast amounts of Bitcoin. It can make these purchases through sales of its “Stretch” perpetual preferred shares, a security that offers i Show less Read more
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