Crypto
Strategy common and preferred shares hit 52-week lows on bitcoin slump and securities probe
Strategy, led by Michael Saylor, saw its common stock and preferred shares fall sharply as bitcoin weakened and a securities investigation emerged. The stock hit a 52-week low and the dividend preferred STRC traded well below par, stoking concern over its fundraising model. Dividend obligations rose to about $1.2 billion a year as cash holdings fell. The firm holds about 847,363 BTC, with unrealised losses estimated at $10.6 billion.
