So, here’s the scoop:
- Michael Saylor’s Strategy (MSTR) has launched a $21B ATM offering of its preferred stock (STRK). Because who needs cash when you can have more bitcoin?
- Bitcoin (BTC) got a little pep in its step, rising about $1,000 to above $83,000 on the news. 📈🎉
- Strategy currently holds just under 500,000 bitcoin. They’re like the bitcoin hoarders of the corporate world.
After taking a breather from buying additional bitcoin (BTC) for a couple of weeks, Michael Saylor’s Strategy (STRK) is back at it like a dog with a bone.
The company announced a $21 billion at-the-market (ATM) offering of its Series A preferred stock (STRK), and guess what they plan to do with the money? You guessed it – buy even more bitcoin.
The news gave bitcoin a small boost, lifting it from the depths of another panicky Sunday session where it traded as low as $80,000. Now, it’s trading just above $83,000. 🚀💸
Strategy is the undisputed king of corporate bitcoin holders, with almost 500,000 tokens, worth around $42 billion at today’s price. Talk about stacking sats!
MSTR shares are down 5.5% in premarket action and have lost about 50% since hitting a record high in late November. But hey, who needs stable stocks when you can have the thrill of crypto rollercoasters?
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2025-03-10 15:21