Strategy can survive Bitcoin crashing to $8,000 – but can it escape the slow bleed of dilution?
Strategy (formerly MicroStrategy) has become the public market’s most widely traded Bitcoin proxy, using equity, convertible notes, and preferred stock to build a balance sheet dominated by the top crypto. However, as Bitcoin trades near $68,000 and Strategy shares hover below $130, investors are paying closer attention to the mechanisms that allow the company to …
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