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According to a report by CoinDesk, MicroStrategy (MSTR), a prominent U.S. corporation widely recognized for its substantial and ongoing investments in bitcoin (BTC), has expanded its range of financial strategies and instruments by introducing a second series of Series A perpetual preferred stock. This newly launched financial offering, which has been designated the name Strife (STRF), represents a continuation of the company’s strategy to broaden its access to capital market instruments and diversify its funding sources. Specifically, the company is currently in the process of selling a total of 8.5 million shares of STRF, with each share priced at $85. The aim of this stock offering is to raise a net sum of $711.2 million, which the company intends to use to further fund its bitcoin acquisition strategy, thereby exceeding its initially stated target of $500 million for this particular capital raise. The sale of these new shares is anticipated to formally conclude later on Tuesday. Prior to this second preferred stock issuance, MicroStrategy had successfully completed its first preferred issuance, known as Strike (STRK), which generated total proceeds of $563 million.

Perpetual preferred stocks, such as STRF, occupy a unique position in the capital structure of a company, generally situated between traditional debt instruments and common equity. These types of securities typically offer investors a combination of dividend payments and a higher degree of price stability compared to common stock. This characteristic makes them particularly appealing to investors who are seeking investments with lower volatility and more predictable and consistent returns. Unlike common stockholders, preferred stockholders, including those who hold STRF shares, generally do not have voting rights within the company. The STRF shares offer a 10% annual dividend based on a stated amount of $100 per share, with dividend payments to be made in cash on a quarterly basis. In the event that MicroStrategy fails to make a dividend payment on time, the missed amount will compound at an additional rate of 1% annually, up to a maximum dividend rate of 18%.

This feature is designed to incentivize the company to ensure timely payments of the dividends. Furthermore, MicroStrategy retains the option to redeem all outstanding STRF shares if the percentage of the original issuance remaining is less than 25%, or in the event of certain specific tax-related events. In the event of such a redemption, shareholders would be entitled to receive the liquidation preference amount, plus any accrued and unpaid dividends. In addition to this, in the event of a "fundamental change" affecting the company, holders of STRF shares have the right to compel the company to repurchase their shares at the stated amount of $100, plus any accrued dividends that have not yet been paid.

In contrast to STRF, the first preferred stock issuance, STRK, offers an 8% annual dividend, which is based on its $100 liquidation preference. However, it's worth noting that the effective yield of STRK decreases as the price of STRK shares increases in the market. Another key difference between the two offerings is that, unlike STRF, STRK includes a conversion feature, which allows holders of STRK shares to convert their preferred shares into common stock at a ratio of 10:1, provided that the common share price reaches $1,000. This conversion feature provides investors with the potential for equity upside. Due to the absence of this conversion feature, STRF is considered to be more akin to a fixed-income security, making it particularly attractive to investors who prioritize income generation and capital stability over potential equity gains. To ensure the company has sufficient funds to support these dividend payments on its preferred stock issuances, MicroStrategy plans to utilize a combination of operational cash flow generated from its business operations, proceeds obtained from convertible debt offerings, and at-the-market (ATM) share sales on the company's common stock. These various funding sources are intended to provide the company with the financial flexibility needed to meet its dividend obligations to its preferred shareholders.

Strategy continues to operate a program which allows it to acquire STRK opportunistically, similar to an "at-the-market" (ATM) offering. In a recent move, the company demonstrated this program by purchasing 130 Bitcoin. Furthermore, Strategy possesses considerable remaining capacity within this ATM structure, valued at approximately $3.57 billion, which is available through the issuance of common stock. This substantial financial flexibility is a key advantage for the company. It enables Strategy to confidently fulfill its dividend commitments to shareholders, while simultaneously allowing it to persistently pursue its strategic objective of accumulating Bitcoin. This dual capability is a significant benefit. Evidence of investor confidence in Strategy's approach was seen on Monday, when the company's shares experienced a notable increase of over 10% in their value. At that point in time, Strategy held a substantial reserve of 506,137 Bitcoin, reflecting its continued and aggressive accumulation strategy. This large Bitcoin holding reinforces the company's position in the market and its commitment to the digital asset.

Kentucky has taken a significant step forward in the realm of cryptocurrency regulation, with Governor Andy Beshear officially signing the "Bitcoin Rights" bill into law, as reported by Coin telegraph. This newly enacted legislation is designed to provide a robust framework of protections for individuals who engage with cryptocurrency and other digital assets within the state. Formally known as House Bill 701, this important piece of legislation was originally introduced by Representative Adam Bowling on February 19th. The core objective of the bill is to ensure that individuals have the freedom to utilize digital assets without undue restrictions and to maintain control over their own digital wallets through self-custody. Furthermore, the bill includes provisions that explicitly prohibit local zoning authorities from implementing changes that would unfairly discriminate against cryptocurrency mining activities. This aspect of the bill is crucial for fostering a supportive environment for innovation and growth in the cryptocurrency sector within Kentucky.

In addition to safeguarding user rights and protecting mining operations, House Bill 701 also outlines specific guidelines for those who wish to operate a cryptocurrency node within the state. Moreover, it clarifies the regulatory landscape by specifically exempting cryptocurrency mining activities from the often burdensome requirements associated with money transmitter licenses. This exemption is intended to reduce barriers to entry and encourage wider participation in the cryptocurrency mining ecosystem. Another important clarification provided by the bill is that cryptocurrency mining and staking activities are explicitly not to be considered as securities offerings, thereby providing greater legal certainty to individuals and businesses operating in this space. The bill received overwhelming support within the Kentucky legislature, passing unanimously in both the Kentucky House of Representatives and the state Senate, before ultimately being signed into law by Governor Beshear on March 24th.

Kentucky's recent actions are part of a broader trend of states exploring and enacting legislation related to cryptocurrency and digital assets. Notably, Kentucky's move closely mirrors similar legislation that was enacted by Oklahoma Governor Kevin Stitt in May of 2024. Furthermore, Kentucky has also put forward a proposal that would potentially establish a Bitcoin reserve for the state.

This proposed initiative would allow the State Investment Commission to allocate a portion of the state's excess reserves, up to a maximum of 10%, into various digital assets, including Bitcoin. This bold proposal is still under consideration and has yet to be finalized.
Meanwhile, in Oklahoma, a similar initiative is also gaining momentum. Oklahoma's House Bill 1203, officially titled the Strategic Bitcoin Reserve Act, has successfully passed the State House of Representatives with a significant majority vote, demonstrating strong support for the concept of a state-backed Bitcoin reserve. This bill, which was introduced by State Representative Cody Maynard on January 15th, first successfully navigated the Government Oversight Committee before being passed by the full House. The bill now awaits approval from the Senate before it can potentially be sent to the governor for final approval and enactment. Furthermore, Oklahoma State Senator Dusty Dee vers has introduced additional legislation aimed at further integrating Bitcoin into the state's economy by allowing residents to receive their salaries in Bitcoin, offering individuals greater flexibility and choice in how they are compensated.
Bitcoin legislation tracker group Bitcoin Laws has observed that Oklahoma's progress in pursuing a state Bitcoin reserve has propelled it into a tie for second place with Texas in the ongoing state Bitcoin reserve race. Arizona currently leads the pack, having seen two strategic digital asset reserve bills advance successfully in its House Rules Committee. The political climate in Oklahoma, which is predominantly Republican, suggests a favorable outlook for the passage of the state's Bitcoin reserve bill, given the party's generally pro-business and fiscally conservative stance. In addition to these developments in Kentucky and Oklahoma, Missouri's Special Committee on Intergovernmental Affairs is currently in the process of evaluating its own proposed Bitcoin reserve bill. These various legislative efforts across multiple states underscore the growing level of interest and the increasing number of legislative initiatives focused on cryptocurrency and the effective management of digital assets throughout the United States in 2025.

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The cryptocurrency market is currently gripped by a wave of caution, leaving traders in a state of indecision. Stellar (XLM) struggles to break past the $0.2724 resistance, signaling a persistent bearish trend. Meanwhile, Ethereum (ETH) faces weakening market strength, dipping below the critical $2,000 threshold. In this climate of uncertainty, traders are actively seeking resilient alternatives poised for significant growth.
Block DAG (BDAG) emerges as a compelling option, introducing a novel approach to user engagement through its Achievement Page. This platform transforms active participation into tangible rewards, allowing users to accumulate XP (experience points) by completing simple tasks, thereby boosting their BDAG holdings and unlocking exclusive privileges.
Stellar's (XLM) Downward Trajectory: A Sign of Continued Weakness?
Stellar's ongoing struggle to surpass the $0.2724 resistance underscores the prevailing bearish sentiment. The dominance of sellers and the presence of significant supply zones suggest that further declines may be imminent. Traders are eyeing potential short positions, with a possible drop to $0.255 or even $0.250 if the resistance holds. The lack of robust buying interest indicates that a near-term reversal is unlikely.
Ethereum's (ETH) Market Analysis: Will Recovery Follow the Dip?
Ethereum's recent fall below $2,000 reflects waning market demand, casting doubt among long-term holders. On-chain data reveals reluctance among previous buyers to increase their investments, contributing to the bearish outlook. The $1,850 support level is crucial, as a breach could trigger a further descent to $1,600 or even $1,250. With traders exiting positions and new buying interest dwindling, Ethereum faces a challenging path to recovery, with resistance at $2,630 and $2,800 posing significant hurdles.

Block DAG's Achievement Page: Turning Engagement into Rewards

Block DAG is revolutionizing user interaction by rewarding active participation. The Achievement Page enables users to accumulate XP and enhance their BDAG holdings through simple tasks, such as purchasing BDAG, participating in bonus programs, and completing challenges. This innovative approach offers a unique opportunity to amplify returns.

With BDAG's price surging 2,380% from $0.001 to $0.0248 in Batch 27, and over $205.5 million raised, Block DAG is experiencing significant momentum. The Achievement Page further incentivizes participation, allowing users to capitalize on the coin's upward trajectory. Weekly challenges ensure continuous engagement and reward accumulation, positioning users for substantial gains.

Identifying Prime Crypto Opportunities in a Volatile Market

While Stellar and Ethereum grapple with bearish trends and market uncertainty, Block DAG stands out as a promising alternative. Its successful presale, raising $205.5 million, and the 2,380% price surge highlight its strong market presence. The Achievement Page's innovative approach to rewarding user engagement further solidifies Block DAG's appeal, offering an attractive opportunity for traders seeking to maximize their returns in a turbulent market.

Blockchain Advisor | Author | Investor | Board Member | Singapore: Europe rising, Asia watching, Bitcoin sideways, gold shining in a world on edge.


The recent rebound in risk sentiment and US markets, fueled by easing government shutdown fears, highlights the complex interplay of global financial uncertainty, inflationary pressures, and shifting geopolitics.
Last Friday's 2.1% surge in the S&P 500, following a technical recession the previous day, reflected relief over the averted shutdown. However, this optimism contrasts with a significant drop in US consumer sentiment to a two-year low (57.9 in March). Consumers anticipate rising inflation (3.9% over 5-10 years), the highest long-term expectation in over three decades, driven by potential tariff impacts.
The Federal Reserve is expected to hold rates steady at its upcoming meeting, emphasizing a data-driven approach despite inflationary fears and slowing growth. Meanwhile, the 10-year US Treasury yield edged up to 4.31%, indicating investor caution regarding long-term risks, particularly fiscal policy and trade.
Gold surpassed US$3,000 per ounce, signaling investor unease amidst policy uncertainty and potential supply chain disruptions. Brent crude rose to US$71.61 per barrel, driven by tighter supply expectations and OPEC+ production plans, potentially fueling inflation while reflecting sustained demand.
In Europe, German political developments boosted the EUR/USD pair to 1.0876, reflecting confidence in the region's economic stability. Asian equities rebounded, focusing on upcoming Chinese data releases (fixed asset investments, retail sales, industrial production, and home prices) for clues about the health of the world's second-largest economy. The mood in Asia mirrors the cautiously optimistic US relief rally.

South Korea rejects Bitcoin as a foreign exchange reserve due to its volatility and high transaction costs, aligning with IMF guidelines prioritizing liquidity and risk management. This contrasts sharply with the US, where President Trump's executive order establishes a Strategic Bitcoin Reserve, signaling an embrace of cryptocurrency as a strategic asset for hedging against dollar weakness and attracting blockchain investment. North Korea, via the Lazarus Group, has stealthily become a significant Bitcoin holder, amassing 13,562 BTC (US$1.14 billion) through cybercrime, notably a US$1.4 billion heist from Bybit. This highlights the blurring lines between legitimate investment and illicit gain in Bitcoin's global role.
Bitcoin's price remains volatile, eyeing US$86,700 resistance; failure to breach it could trigger drops to US$77,859 or even US$71,011. CryptoQuant analyst Darkfost noted a US$10 billion drop in Bitcoin's open interest between February 20 and March 4 following a record US$33 billion in January, reflecting political uncertainty and a market reset.
The US market's relief rally is likely fleeting, masking deeper economic concerns like plummeting consumer sentiment and rising inflation expectations. The Fed's cautious approach risks being seen as indecision if inflation accelerates. Gold and oil's surge indicate a flight to safety and supply-side anxieties. Bitcoin's divergent reception – rejected by South Korea, embraced by the US, and exploited by North Korea – encapsulates the chaos and opportunity of the digital age.
Investors should proceed cautiously, balancing short-term gains with long-term risks, as the global economic drama unfolds.

sources: https://e27.co/europe-rises-asia-watches-bitcoin-sideways-and-gold-shines-a-world-on-edge