策略（MSTR）揭示了永久性纠纷优先股（Strf），提供10％的年现金股息

策略（MSTR）周二上午推出了其最新的转折，以从资本市场筹集资金以资助额外的比特币（BTC）购买，但有迹象表明华尔街钉在放缓的情况下。

MicroStrategy (MSTR) on Tuesday morning unveiled its latest twist at raising funds from capital markets to fund additional bitcoin (BTC) purchases, but there are indications the Wall Street spigot is slowing.

MicroStrategy（MSTR）在周二上午宣布了其最新的转折，该转折从资本市场筹集资金以资助额外的比特币（BTC）购买，但有迹象表明华尔街尖顶正在放缓。

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

SEC文件显示，该公司的永久纠纷优先股（STRF）具有固定的年度现金股息10％，每季度支付。如果股息无偿，他们每年（季度）以额外的1％（季度）加复合，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) offered 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).

Strateger的最初首选系列（Strk）仅提供8％的利率，而Strategy的一系列可转换债务产品则具有微不足道甚至0％的利率（当然与首选产品不同）。

Unlike common stock, STRF holders do not have voting rights but have priority in liquidation with a $100 per share liquidation preference. Strategy has 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持有人没有投票权，但在清算中优先考虑每股100美元的清算偏好。策略有权赎回STRF，如果不到原始股份的25％或发生税收事件，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, offering investors bitcoin exposure with a high-yield structure. Morgan Stanley, Barclays, Citigroup, and Moelis & Company are joint book-running managers for the offering, conducted under an SEC shelf registration.

预计STRF将在发行后30天内向纳斯达克贸易，从而为投资者提供具有高收益结构的比特币风险。摩根士丹利（Morgan Stanley），巴克莱（Barclays），花旗集团（Citigroup）和摩尔利斯（Moelis＆Company）是在SEC货架注册下进行的合作簿经理。

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。