Michael Saylor’s Strategy Inc. accelerated its Bitcoin buying with a nearly $1.3 billion purchase—the biggest in seven weeks—leaning again on its common stock despite earlier pledges to pivot to perpetual preferred shares. The company, formerly known as MicroStrategy, bought 17,994 Bitcoin between March 2 and March 8, according to a regulatory filing Monday. Roughly $900 million of the purchase was funded through sales of Class A common stock. The remaining $377 million—about 30% of the total—came from at-the-market sales of its “Stretch” preferred shares, which were sold at a discount to face
Michael Saylor’s Strategy Inc. accelerated its Bitcoin buying with a nearly $1.3 billion purchase—the biggest in seven weeks—leaning again on its common stock despite earlier pledges to pivot to perpetual preferred shares. The company, formerly known as MicroStrategy, bought 17,994 Bitcoin between March 2 and March 8, according to a regulatory filing Monday. Roughly $900 million of the purchase was funded through sales of Class A common stock. The remaining $377 million—about 30% of the total—came from at-the-market sales of its “Stretch” preferred shares, which were sold at a discount to face