$Strategy(MSTR)$ Although legally its much better for MSTR holders, this isn't too dissimilar from a project launching a second token as far as implications for MSTR go.
They're going to raise capital for preferred stock with a perpetual 10% dividend. The capital benefits the company and MSTR holders as a byproduct, but reduces potential future distributions to MSTR holders as the preferred shares are higher up the cap stack. [Miser][Miser][Miser]
It also acts as a second instrument that people would otherwise choose to buy, leading to less marginal buying pressure on MSTR.
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