Michael Saylor, CEO of Strategy Inc., sold $104 million in Bitcoin last week to finance STRC, a financial product linked to Bitcoin purchases. STRC is a variable-rate perpetual preferred stock that Strategy uses to raise capital for additional Bitcoin acquisitions. This sale reflects Strategy’s shift from holding Bitcoin indefinitely to a more dynamic approach that integrates Bitcoin sales with capital-market activities. The market assigns a 43.5% probability to STRC reaching its $100 target price by year-end, suggesting uncertainty about the product’s performance.
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