Strategy Temporarily Halts Weekly Bitcoin Purchases, Unrealized Gains Reach Approximately 5 Trillion Yen

Strategy (formerly MicroStrategy) disclosed in an 8-K form submitted to the SEC on October 7 that it did not make additional Bitcoin purchases during the week of September 29 to October 5. According to a press release, the company expended $140 million for the payment of dividends on preferred stocks. This marks the first pause in Bitcoin acquisitions since the end of July. This year, Strategy issued several types of preferred stocks as a means of fundraising beyond convertible bonds and common stock. Of the five types issued, three have set an annual dividend rate of 10%. In cases where dividend payments are missed, some preferred stocks have a mechanism where dividends accumulate...