Strategy, founded by Michael Saylor, has announced a new STRF stock offering to raise funds for purchasing Bitcoin.
Strategy's New STRF Offering
Strategy has registered a new public STRF offering under the Securities Act of 1933, consisting of 5,000,000 shares of Series A Perpetual Strife Preferred Stock. The proceeds are intended for general operations, including Bitcoin acquisition.
Plans to Buy $21 Billion in Bitcoin
This week, Strategy purchased 130 BTC worth approximately $10.7 million, increasing its total Bitcoin holdings to 499,226 BTC. The new offering raised around $10 million to fund a $21 billion Bitcoin acquisition goal.
Criticism Towards Michael Saylor
Prominent investor Jason Calacanis accuses Michael Saylor of 'hijacking' Bitcoin, asserting that his large-scale purchases lead to Bitcoin centralization by limiting distribution among few holders.
The STRF offering is part of Strategy's plan to continue amassing Bitcoin, despite criticisms aimed at its founder.
