Strategy Aims to Raise Another $500M for Bitcoin Buys With New Preferred Series

Strategy (MSTR) has launched its latest fundraising vehicle for additional bitcoin (BTC) purchases.

The STRC Preferred Stock (nicknamed "stretch" by the company) will have an initial dividend rate of 9%. The company is looking to sell 5 million shares at $100 each for a total of $500 million.

STRC will join the company's other preferred series of shares — STRK, STRF and STRD — not to mention the common stock at-the-market program, through which MSTR raised $736 million just last week for more bitcoin acquisitions.

Strategy, of course, is gorilla among corporate bitcoin holders with more than 600,000 coins worth about $72 billion.

MSTR is little-changed in after hours trade.