News analysis
Strategy's STRC closes eight cents below $100 after preferred dividend vote
· By MyCryptoSignal Editorial · 332 words
CryptoSlate reports that Strategy's STRC preferred stock closed eight cents below its $100 stated value, the level the company ties to its Bitcoin funding channel. Executive Chairman Michael Saylor said preliminary results from the Oct. 28 shareholder vote showed 99.3% of votes cast backed an amendment covering four preferred securities.
According to CryptoSlate, the amendment allows Strategy's four US-listed preferred securities — STRC, STRF, STRK and STRD — to accrue daily dividends. The report, published on Oct. 29, says shareholders approved the change, with Saylor citing a preliminary tally of 99.3% support among votes cast. CryptoSlate frames the $100 stated value as the level that could reopen a Bitcoin funding channel for the company.
The report does not say what Strategy intends to do with any proceeds, and it offers no timeline beyond the vote results. The source's figures are its own; we have not verified them.
As of 17:17 UTC, Bitcoin traded at $81,100, up 0.83% over 24 hours, according to our collected data. The coin is down 0.60% over seven days and 2.36% over 30 days. Its 24-hour range ran from $79,636 to $81,840, and the 14-period RSI stood at 66.8 with a flat trend reading. Our appendix lists support at $81,544.60 and resistance at $81,688, both above the last price.
The wider market carried a total capitalisation of $2.561 trillion, up 0.69% over the same 24 hours, with Bitcoin dominance at 63.7%. Bitcoin is the only coin in our appendix for this snapshot, so the frame rests on that single set of readings.
STRC's position eight cents under its $100 stated value sits alongside a Bitcoin price that is 2.36% lower over 30 days and carrying a flat trend reading. The vote gives Strategy's four preferred securities a daily dividend structure. Our data shows Bitcoin trading below the support level the appendix lists, at $81,544.60. Both facts are on the record; neither settles what the funding channel does next.
Read the full story at CryptoSlate: https://cryptoslate.com/strategys-strc-returns-to-brink-of-100-after-saylor-wins-approval-for-daily-dividends-reviving-bitcoin-buying-hopes
Data, not advice.
Source: CryptoSlate — see our editorial policy.