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AIMCo Buys Into Strategy as Funding Shift Slows Bitcoin Purchases

A switch from preferred to common stock funding has sharply slowed its weekly bitcoin buys.

Overview

  • AIMCo purchased about 1.38 million MSTR shares at an average of roughly $125, a stake now worth about $241 million that leaves the Canadian pension with a $69 million paper gain.
  • Capital Group lifted its holdings by 4.32 million shares to 10.33 million, and Vanguard bought more than 1.2 million shares in April to top 2 million in total.
  • Strategy’s latest bitcoin buy fell 91% to 3,273 BTC after it raised cash by selling common shares instead of issuing STRC, its variable-rate preferred stock that it typically uses to fund larger purchases.
  • The company now reports 818,334 BTC, keeping a narrow lead over BlackRock’s 810,077 BTC.
  • Strategy kept the STRC preferred dividend at 11.5% for May as the shares trade near their $100 par, a step aimed at keeping its funding vehicle stable.