Strategy announces 10% preferred stock offering to buy more Bitcoin 💸
Strategy announces a 10% preferred stock offering at $85 per share, aiming to raise approximately $711 million for further Bitcoin purchases. The company’s recent purchase was 130 BTC, bringing its total to 499,226 BTC worth $41.8 billion.
Despite shares declining over 26% since March, Strategy continues leveraging its preferred stock sales to enhance its Bitcoin holdings. This move aligns with co-founder Michael Saylor’s strategy to increase its cryptocurrency accumulation by raising debt and selling equity.
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