Crypto
Key Points
- Today, Strategy₿’s preferred stock, Strife (STRF), goes live on Nasdaq.
- STRF will create USD yield for STRF investors and BTC yield for MSTR investors.
Earlier today, Michael Saylor made a bullish announcement for the crypto industry. In a post on X, he said that Strategy₿’s latest product, the preferred stock called Strife (STRF), will go live on Nasdaq today.
This means USD yield for STRF investors and Bitcoin yield for investors in the company’s main stock, MSTR.
MSTR Stock Surges
According to official data, MSTR stock is currently priced at $341.81, and it surged by almost 18% in the past five days.
MSTR has had a continued ascendant trajectory since March 10, when it was priced at over $239.
Recent Strategy₿ Announcements
The company launched its latest Perpetual Stock offering on March 18, revealing that it would use the proceeds to buy more Bitcoin, among other company purposes.
Also, on March 21, Strategy₿ upsized its initial $500 million STRF offering to $722 million, which means even more capital for Bitcoin purchases.
On March 24, Saylor announced that the company had bought 6,911 Bitcoins, raising its total holdings to 506,137 Bitcoins currently worth over $44,6 billion.
Strategy₿ became the first publicly traded company to own more than 500,000 BTC, and the total BTC amount represents more than 2.4% of the total BTC supply of 21 million.
The firm began buying Bitcoin in August 2020, and continued purchasing the digital asset since, despite market volatility.
Institutional Interest in Bitcoin Grows
Apart from various companies creating their own Bitcoin reserves, the US BTC ETFs in the US continued seeing inflows for eight days.
Since March 14, when BTC ETFs recorded over $32 million in inflows, the biggest inflow day was on March 17 above $274 million.
As of yesterday, March 25, the total net assets in BTC ETFs were over $99 billion, and the cumulative net inflow in the crypto products since their January 2024 launch was over $36 billion, according to data from SoSoValue.
Speaking of Bitcoin ETFs. BlackRock, which launched its BTC ETF, IBIT, in 2024, is expanding its reach in Europe, supporting Bitcoin adoption in the region.
