Strategy used $300 million of MSTR dilution to backstop its Bitcoin’s biggest buying machine
Strategy (formerly MicroStrategy) raised $335.5 million by selling common stock last week, then placed almost 90% of the proceeds into cash rather than Bitcoin as the company moved to shore up the preferred securities financing its cryptocurrency purchases. The company sold about 2.71 million MSTR shares between June 15 and June 21 and added $300 …
No comments yet. Be the first to add a perspective.