Michael Saylor’s Strategy Increases Preferred Stock Offering to Fund Potential Bitcoin Purchases

Key Points

1. Strategy Corp upsized its Stretch (STRC) preferred stock offering from $500 million to $2.5 billion to fund Bitcoin purchases.

2. The company holds 607,770 Bitcoin, valued at over $70 billion, representing nearly 2.9% of Bitcoin's total supply.

3. Strategy Corp resumed Bitcoin purchases in July, acquiring $472 million and $740 million worth of BTC in separate transactions.

4. Despite Bitcoin's price volatility, Strategy Corp's shares (MSTR) have shown correlation with Bitcoin's market movements.

5. The firm's aggressive Bitcoin accumulation strategy highlights its long-term bullish stance on the cryptocurrency.