Live updates: promos, term changes, new challenges, payouts.
Shareholders of Strategy (Michael Saylor's company, the largest corporate holder of Bitcoin) approved amendments: dividends on preferred shares will accrue daily rather than once a month or quarter. This is an attempt to revive demand for the securities through which the company finances its BTC purchases.
The South Korean KOSPI index gained 6.6% on Wednesday, October 28, following a report from memory chip maker SK Hynix: operating profit grew sevenfold, and the company announced it would return another $45 billion to shareholders.
On October 16, the calendar has four reasons for movement at once: inflation in the European Union, US industrial statistics, the fifth day of the annual IMF and World Bank meeting with central bank heads participating, and a morning speech by Fed Chair Warsh.
Strategy bought 334 BTC for $28.7 million in a week, but allocated $176.3 million to buy back STRC preferred shares. The company now holds 848,000 BTC worth approximately $73 billion.
