Strategy Plans $21 Billion Offering to Purchase Additional Bitcoin
Michael Saylor's Strategy (STRK) announced a $21 billion at-the-market offering of its Series A preferred stock. Proceeds will primarily fund additional bitcoin purchases.
- The announcement occurred during early Monday U.S. hours.
- Bitcoin briefly traded as low as $80,000 but is now above $83,000.
- Strategy holds nearly 500,000 bitcoins, valued at approximately $42 billion.
- MSTR shares dropped 5.5% in premarket trading and are down about 50% since late November's peak.