Michael Saylor’s firm Strategy bought about $2.1 billion of Bitcoin last week, adding roughly 22,000 BTC at an average near $95,280 to its treasury. The company financed part of the purchase using a new preferred instrument called STRC instead of issuing common equity.
STRC is a Series A perpetual preferred stock that targets a $100 par and pays monthly dividends equal to about an 11% annualized yield. The instrument adjusts its rate to limit price swings and is backed by a balance sheet heavy with Bitcoin (Ed. note: STRC is not directly collateralized by Bitcoin).
Crypto markets fell Tuesday with major tokens down across the board, and Data shows broad declines on exchanges (market data). Over $1 billion in long positions hit liquidations during Bitcoin’s slide (liquidation figures).
ETF products saw outflows, with BTC ETFs posting roughly $480 million and ETH ETFs seeing about $230 million in redemptions (ETF flows). Corporate and onchain moves included Delaware Life adding BTC exposure to an annuity tied to a spot BTC ETF, and BitMine buying $108 million of ETH.
Other notable items: Solana Mobile launched its SKR token (Solana Mobile post), Infinex set a Jan. 30 TGE (Infinex post), and Galaxy Digital revealed plans for a $100 million fund (CoinDesk post). NFT volumes also dropped on OpenSea collections, while a public poll tracked opinion on Strategy’s holdings (market poll).
