NFT News Daily Offcial TheBitTimes.com

Michael Saylor’s flagship preferred share, Strike (STRK), was conspicuously absent from his company’s listing announcement this morning. The company instead announced that investors may now purchase calls and puts on Strife (STRF), Stretch (STRC), and Stride (STRD), as well as the earlier options chain for Strategy common stock (MSTR). No options chain exists for STRK — despite its Series A seniority and market capitalization exceeding STRD and STRF, respectively. Strike is unique not only because it was Saylor’s first attempt at selling preferred shares with perpetual dividends, but because the most bullish type of preferred share that the company has ever offered. No call options on Strategy’s most bullish preferred shares STRK pays a perpetual annualized dividend rate of 8% USD, plus it will convert into 0.1 MSTR shares if MSTR rallies to $1,000 per share. For context, the all-time high of MSTR is $543 and it’s currently trading below $330. T...

Last week, Strategy (formerly MicroStrategy) executives were tapping the company’s at-the-market (ATM) to sell MSTR and dilute shareholders ahead of its highly anticipated and ultimately disappointing S&P 500 decision. On Friday — after the company had sold over $200 million worth of MSTR in a week — S&P Dow Jones Indices’ US Index Committee declined to add Strategy to its prestigious S&P 500 Index . Despite satisfying over a half dozen qualifying metrics, the committee decided to award inclusion to Robinhood, AppLovin, and Emcor, instead. Then this morning, Strategy Chairman Michael Saylor went on to brag about how his company’s sales ahead of that S&P 500 declination allowed the company to buy more bitcoin (BTC). With that $200 million from MSTR dilution plus $16.8 million from preferred shares, the company acquired 1,955 additional BTC last week. Strategy has acquired 1,955 BTC for ~$217.4 million at ~$111,196 per bitcoin and has achi...