Strategy could buy 4,300 BTC via preferred stock sale

Strategy could potentially raise $302 million by selling its perpetual preferred stock (STRC), giving founder Michael Saylor the capacity to purchase an additional 4,300 BTC, Cointelegraph reported. The outlet cited data from BitcoinQuant, which showed that the total trading volume for STRC has reached $777 million, with 97% of those trades occurring above the stock's par value of $100. Based on the assumption that MicroStrategy secured approximately 40% of this trading volume in actual proceeds, the company could raise around $302 million. This amount would be sufficient to purchase 4,334 BTC at a price range of $68,000 to $73,000.