Strategy Shares Surge on New Digital Credit Capital Framework
Strategy, a software firm and Bitcoin treasury company, has seen its shares surge over 12% on Monday after unveiling its Digital Credit Capital Framework. The framework includes raising the STRC dividend rate to 12%, authorizing a $1 billion buyback in common stock and digital credit securities, and increasing its USD reserve to approximately $2.55 billion.
The plan has been met with approval from Wall Street, with Citi maintaining a 'Buy' rating on Strategy and Benchmark analyst Mark Palmer calling the structure 'robust.'
However, not everyone is pleased with the new framework. Peter Schiff, CEO of Euro Pacific Capital, stated that Executive Chairman Michael Saylor 'basically just surrendered,' moving from being the biggest buyer to the biggest seller.