Strategy has once more skipped its regular weekly BTC purchase while announcing plans for a new share placement. This skip coincides with preparations for a new type of shares with dividends.
Reasons for Skipping BTC Purchase
This time, Strategy did not make its BTC purchase for the first time since July 7. Previously, the purchase was delayed due to quarter-end reporting technicalities. Ahead of Monday’s S-8 filing, Executive Chairman Michael Saylor posted a statement on social media.
Upcoming Stretch (STRC) Share Placement
The company is preparing for the placement of its new shares, Stretch (STRC), which will be offered with cumulative dividends and adjustable pricing. The shares are expected to be offered in the lower range of $90, with the placement anticipated on Tuesday.
BTC Market Dynamics and New Company Purchases
Last week, BTC showed some weakness, dipping to $115,000, primarily due to liquidated long positions. BTC is trading at $118,958. Strategy retains a large treasury of 607,770 BTC, surpassed only by the reserves of BlackRock's IBIT ETF. Meanwhile, Metaplanet continues its expansion, adding 780 BTC, holding a total of 17,132 BTC, making it the 7th largest corporate BTC holder.
Overall, the skip in BTC purchasing is a significant event for Strategy, while the upcoming Stretch share placement may mark an important milestone for the company this year. Additionally, the dynamics of the BTC market and actions by companies like Metaplanet continue to influence the crypto industry landscape.
