MicroStrategy（MSTR）推出了比特币资助策略的新扭曲

根据美国证券交易委员会（SEC）的文件，该公司的永久纠纷优先股（STRF）提供了固定的年度现金股息10％，每季度支付。

U.S. tech firm Strategy (NASDAQ:MSTR) is planning to sell perpetual preferred stock with a 10% dividend yield to raise funds for further bitcoin purchases, the company disclosed in a filing on Tuesday.

该公司在周二的一份文件中透露，美国科技公司战略（NASDAQ：MSTR）计划以10％的股息收益率出售永久优先股，以筹集资金以进行进一步的比特币购买。

The company's Perpetual Strife Preferred Stock (STRF) will offer a fixed 10% annual cash dividend, paid quarterly, according to the filing. If dividends are unpaid, they will compound at an additional 1% per year (quarterly), up to a maximum of 18%. The first dividend payment is scheduled for June 30, 2025.

该公司的文件显示，该公司永恒的纠纷优先股（Strf）将提供固定的年度现金股息10％，每季度支付。如果股息无偿，他们将以每年（季度）额外1％（季度）额外增值，最高为18％。第一次股息付款定于2025年6月30日。

Strategy's initial preferred series (STRK) had only an 8% interest rate. And Strategy's series of convertible debt offerings came with negligible or even 0% interest rates (different product than preferred, of course).

策略的最初首选系列（Strk）的利率仅为8％。策略的一系列可转换债务提供的是可忽略不计甚至0％的利率（当然，产品不同）。

Unlike common stock, STRF holders will not have voting rights but will have priority in liquidation with a $100 per share liquidation preference. Strategy will have 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 case of a fundamental change.

与普通股不同，Strf持有人将没有投票权，但将优先清算，每股清算偏好100美元。如果不到原始股份的25％或发生税收事件，策略将有权兑换STRF，而持有人可以在基本变化的情况下要求回购。

STRF is expected to trade on Nasdaq within 30 days of issuance, providing investors with bitcoin exposure in a high-yield structure.

预计STRF将在发行后30天内向纳斯达克交易，从而为投资者提供高收益结构的比特币风险。

Morgan Stanley, Barclays, Citigroup, and Moelis & Company are joint book-running managers for the offering, which is being conducted pursuant to an SEC shelf registration.

摩根士丹利（Morgan Stanley），巴克莱（Barclays），花旗集团（Citigroup）和穆利斯（Moelis＆Company）是该产品的联合书籍经理，这是根据SEC货架注册进行的。

After buying bitcoin at a galloping pace over the past several months, Strategy's fundraising and token acquisitions have slowed to a crawl in recent weeks. The company last week did make additional bitcoin purchases, but they were hardly needle-moving — just 130 BTC for $10.7 million to bring total holdings to 499,226 tokens.

在过去的几个月中，在过去几个月以疾驰的速度购买比特币之后，策略的筹款和代币收购在最近几周内逐渐减慢。该公司上周确实进行了额外的比特币购买，但它们几乎没有针刺 - 仅130 btc，以1070万美元的价格将总持股量提高到499,226代币。

MSTR is lower by 5% in early action Tuesday alongside a slide in markets in general and bitcoin's dip to $81,300 from $84,000 a day ago.

在周二的早期行动中，MSTR的速度降低了5％，总体上的市场滑坡，比特币的下跌至每天的84,000美元，至81,300美元。