Strategy (MSTR) plans perpetual preferreds to fund BTC buys; 11.25% yield

Strategy (MSTR) plans to issue more perpetual preferred shares to finance ongoing Bitcoin purchases and offer a steadier alternative to its volatile common stock. As of February 12, it holds 714,644 BTC at an average cost of $76,052, with BTC near $67,000 and an unrealized loss of roughly $6.5 billion; the "Stretch" shares pay a variable 11.25% dividend.