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
