MicroStrategy, now Strategy, launches new IPO of 5 million shares of $STRC, aka “Stretch,” on July 21. Led by CEO Phong Le and chairman Michael Saylor, the move is seen as a strategic addition to Bitcoin-linked products, sparking online debate.

Strategy aims to set Stretch target price at $100 per share with features like variable dividend rate, ATM issuance, and unique call option. Since adopting Bitcoin standard in August 2020, the firm has seen impressive returns, outperforming Bitcoin itself.

Strategy reports $21 billion in digital asset value in Q2 2025, making balance sheet as strong as Meta and Apple. Execs excited about new $STRC product, emphasizing monthly dividend structure and regular free cash flow for potential buyers.

Stretch could be funded at 9.5% annual rate at $95, with early guidance suggesting 10% rate at $90. Critics question if adding Stretch to existing products like Strike, Strife, and Stride is innovative or overwhelming, sparking debate over its potential success.

Read more at Yahoo Finance: MicroStrategy ‘Stretch’-ed it too far with new product launch