Prop firm news

Strategy (formerly MicroStrategy) introduced daily dividends to buy Bitcoin again

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.

KOSPI +6.6% in a day: SK Hynix report turns AI sector stocks around

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.

Strategy, formerly MicroStrategy, has 848,000 BTC, but it spent 6 times more on buying back its shares

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.