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Michael Saylor is planning to bring a bitcoin-backed "money market-style" financial instrument to Wall Street

Online reports that Strategy has launched a $2 billion "Stretch" variable preferred stock offering that will provide a floating dividend of 9%. The product does not directly give investors access to Bitcoin, but uses Bitcoin's historical return characteristics to maintain high dividends. The offering, called STRC, was so popular that the company quadrupled the size of the offering. It may represent a new investment vehicle that can bring Bitcoin's potential to the income-based investor community of traditional finance.

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