TD Cowen: The issuance of STRD strategy will "bring significant value to MSTR shareholders"

Golden Finance reports that the corporate Bitcoin financial company Strategy (stock code MSTR) recently purchased approximately 10,000 Bitcoins for $1 billion, bringing its total holdings close to the 600,000 BTC mark. The recent purchase funds mainly came from its $1 billion Stride perpetual preferred stock (STRD) IPO. TD Cowen analysts stated that this process “establishes a channel for future high-yield capital inflows into Bitcoin.” Additionally, the market sales of STRK and STRF also provided the company with additional funds. After the latest purchase last week, Strategy currently holds a total of 592,100 BTC. TD Cowen analysts wrote in a report on Tuesday: “Therefore, we expect the dividend yield of [STRD] to be higher than that of the company’s preferred stock.” The target Bitcoin value of the strategy is $63 billion, while the total debt plus outstanding preferred stock is valued at $11.6 billion, leading analysts to “believe that these subordinated securities are very safe.”