Saylor's Strategy company uses preferred stock financing to increase its Bitcoin holdings

Michael Saylor's Strategy company purchased nearly $170 million worth of Bitcoin between February 9-16, of which over $78 million was raised through the at-the-market issuance of its "Stretch" preferred shares, the highest proportion since last November. In the past four weeks, the company has cumulatively sold approximately $543 million in common stock and $85 million in perpetual preferred shares for Bitcoin procurement. Currently, Strategy company has nearly $8.5 billion in circulating preferred shares and holds over 717,000 Bitcoins, valued at approximately $49 billion

Source: Wallstreetcn The copyright of this article belongs to the original author/organization.

The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.