Preferred shares
Glossary · The treasury-company numbers Capitalist
Stock that stands ahead of the common in line to be paid. It carries a fixed dividend and gets its money before common shareholders see any. Strategy’s STRC, STRF, STRK and STRD are preferred shares: the cash they raise buys bitcoin, and the claim they create is what CEBE BPS subtracts.
The reserve set aside to pay preferred dividends without selling a coin is the number we watch: what is owed on the paper against what is held to pay it.
Coverage
- Jul 20ZERO PREFERRED SOLD — STRATEGY LETS $25.2B OF STRF/STRC/STRK/STRD CAPACITY SIT IDLE ON RESERVE-FUNDING WEEK.
- Jul 27NO BITCOIN THIS WEEK — MSTR DILUTES COMMON $544M TO DEFEND PREFERRED
- Jul 14PARAFI: CRYPTO TREASURY PREFERREDS HIT $13B/MONTH — STRC BUILT THE MARKET.
- Sep 2SAYLOR'S CHART PUTS STRATEGY SECOND ONLY TO BERKSHIRE — THE 10.75x IS RESERVE ASSETS OVER DEBT ALONE — PUT THE $14.79 BILLION OF PREFERRED BACK AND IT IS 3.4x
- Sep 1UPDATED: A TOKEN ON A NOTE ON A SHARE ON A COIN — BITFINEX WILL SELL YOU A SLICE OF STRC ON A BITCOIN SIDECHAIN