Bitcoin Policy UK CEO criticizes Michael Saylor’s STRC promotion as dishonest

Susie Ward renewed her criticism at BTC Prague as Strategy disclosed a fresh $100 million Bitcoin purchase, lifting its holdings to 846,842 BTC.

BTC

Summary

Bitcoin Policy UK CEO Susie Ward said at the BTC Prague conference that Michael Saylor’s video promoting Strategy’s STRC perpetual preferred stock was "dishonest" about investment risk, sharpening her earlier criticism of how the instrument was presented to investors. Ward, who is also a Strategy shareholder, has said STRC’s 11.25% dividend yield helps fund further Bitcoin purchases but argued the product’s structural risks were not adequately explained. The remarks came as Strategy said Monday it bought 1,587 BTC at an average price of $63,024 for about $100 million, taking its total holdings to 846,842 BTC. Strategy’s stock was around $132 and down more than 60% over the past year, underscoring the gap between the company’s aggressive Bitcoin accumulation strategy and the performance of its shares.

Terms & Concepts
  • perpetual preferred stock: A type of preferred share with no maturity date that generally pays a stated dividend.
  • dividend yield: The annual dividend payment expressed as a percentage of the investment's price.
  • structural risks: Risks created by a product's design, which can affect returns, priority of claims, or investor protections.