Strategy Buys More Than 40,000 Bitcoin in a Week With Over $2.8 Billion
The company funded nearly half of the purchase with STRC (perpetual preferred stock), and the buying volume exceeded total global Bitcoin ETF net inflows during the same period.
BTC
Summary
No Summary provided as the original text is short
Terms & Concepts
Bitcoin ETF: An exchange-traded fund that gives investors exposure to Bitcoin without directly holding the cryptocurrency.
Perpetual preferred stock: A preferred share with no maturity date that can be used by companies as a long-term funding instrument.
STRC: A perpetual preferred stock used by Strategy to raise part of the funding for its Bitcoin purchase.