ChainCatcher reports that, according to CoinDesk, the perpetual preferred stock STRC issued by Strategy regained its $100 face value during U.S. trading hours on Wednesday, marking the first time since mid-January.
This price level is a key threshold for the company to initiate a market price offering to further increase Bitcoin holdings. STRC previously reached $100 on January 16, when Bitcoin was around $97,000. On February 5, when Bitcoin dropped to $60,000, STRC briefly fell to $93, but has recently recovered to its face value along with the market rebound. The product uses a monthly dividend reset mechanism, with an current annualized dividend rate of 11.25%, aimed at smoothing volatility and encouraging trading prices to approach face value.
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