Strategy Inc. is making another push to boost its fundraising efforts by introducing daily dividends for its flagship preferred shares. The move, approved by shareholders on Wednesday, marks the company's second attempt in less than five months to revive demand for its STRC preferred issue. In June, Strategy had shifted to semi-monthly payments from monthly, but the price of the STRC preferred shares continued to decline alongside the value of Bitcoin.
The latest maneuver comes as Michael Saylor, co-founder and chairman of Strategy, seeks to jumpstart the company's sputtering fundraising machine. The daily dividend payments are designed to attract investors and increase demand for the preferred shares, which Saylor has designated as the company's main funding source.
The shift to daily payments follows a period of declining interest in the STRC preferred issue. The price of the shares has tumbled in recent months, reflecting broader market trends and the volatility of the cryptocurrency market. Despite the challenges, Strategy remains committed to its Bitcoin accumulation strategy, and the daily dividend payments are seen as a key step in supporting that effort.