Advertisement
Saylor Snaps Up Bitcoin on the Dip as MetaPlanet’s Purchase Outstrips Strategy
- Michael Saylor’s firm (Strategy) purchased 130 BTC at around US$82,981 each and introduced STRF, a new funding instrument offering a 10% annual dividend.
- Amid a market downturn with BTC below US$85K and a 30% drop in stock value, Strategy has slowed its Bitcoin acquisitions.
- Meanwhile, Metaplanet acquired 150 BTC on March 18, boosting its total to 3,200 BTC with a goal to reach 10,000 BTC by 2025.
Strategy (formerly, MicroStrategy) bought 130 more Bitcoin (BTC) on Monday, pushing its total holdings to nearly half a million.
The company did so through a new fundraising method to finance additional BTC purchases.
As the company announced, the Perpetual Strife Preferred Stock (STRF) offers a fixed 10% annual cash dividend, paid quarterly. If dividends go unpaid, they compound at an additional 1% per year — up to a maximum of 18%.
The first dividend payment is scheduled for June 30, 2025, and is expected to trade on Nasdaq within 30 days, offering investors high-yield Bitcoin exposure, with Morgan Stanley, Barclays, Citigroup and Moelis & Company as joint book-running managers under an SEC shelf registration.
Related: Standard Chartered Adjusts 2025 Price Estimates for Ethereum, Bitcoin
MicroStrategy Improvising
Unlike its earlier preferred series (STRK), which offered only an 8% interest rate, and its convertible debt offerings that came with negligible or 0% interest, STRF provides a higher yield… that’s basically all of it.
STRF holders don’t even have voting rights, yet they receive priority in liquidation with a US$100 (AU$157) per share preference. So, Strategy retains the right to redeem STRF if fewer than 25% of the original shares remain or if tax events occur, while holders can demand a buyback in the event of a fundamental change.
This comes as Strategy has slowed down its Bitcoin purchases amid the broader market downturn, which has pushed BTC below the US$85K (AU$133K) level. CoinMarketCap data shows the asset is now priced at US$82K (AU$128K), a 12% decline in the last 30 days. Similarly, Strategy’s stock has also tumbled by over 30%.
Related: Altcoin ETFs: Canary Files for SUI Fund, Hashdex Amends S-1 for Index ETF
Metaplanet Buys More Bitcoin Than Strategy
Metaplanet, which is sort of the Japanese version of Strategy but less wild (I assume), recently acquired an additional 150 BTC for 1.88 billion yen (AU$19.7M) on March 18, at an average price of US$83,671 (AU$131,484) per BTC.
Advertisement
This brings the firm’s total holdings to 3,200 BTC, currently valued at approximately US$261.8M (AU$411M).
Metaplanet has a clear goal: to expand its Bitcoin holdings to 10,000 by 2025, as the company revealed. Yes, this same year. Would they go on a Bitcoin buying spree? That remains to be seen.
Author
José Oramas
José is a journalist and translator with a keen interest in blockchain and cryptocurrencies.
