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100 sats \ 4 replies \ @0xbitcoiner 25 Jul \ parent \ on: Strategy Announces Pricing of STRC Perpetual Preferred Stock Stacker_Stocks
Strategy prices 5X oversubscribed $2.47 billion STRC offering
👀 #1053845
These are always oversubscribed. For now MSTR essentially have a perpetual fiat money printer to buy Bitcoin. I don't know how long it will last and I still don't think it justifies the premium to NAV they get but it is wild. All the copycats are just light years behind what they are doing. Ultimately Saylor probably ends up buying up a bunch of these Bitcoin treasury companies and consolidates them under MSTR.
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Have you evaluated Strive merger yet?
Most interesting aspect is they allow Sec 351 in-kind purchase (you can buy in with bitcoin and get shares without selling).
Don't think I would participate but would be interested to hear your thoughts.
Aside: Now that Fidelity has submitted their application to SEC to ask for in-kind in/out into FBTC, I think that a lot of the deals (as well as lots of BTC Loan companies) are going to find it even harder to convince hodlers to participate.
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Yep! People already know that happens, so they ask for a bit more to make sure things work out better when it’s all split up later.
edit: @grayrubyIs the distribution of shares called apportionment?