Bitcoin’s Latest Fiasco: STRC’s Rollercoaster Ride to $4.2 Billion
They’ve now announced they’re offering up to $4.2 billion in these fancy Variable Rate Series A Perpetual Stretch Preferred Stocks (try saying that five times fast). What does that mean? Well, it’s a type of security that pays dividends, has yields as variable as your aunt’s mood, and doesn’t even know when it’s supposed to stop existing. It can be called or redeemed by the company whenever they feel like it. Talk about a flexible repayment plan!