Michael Saylor’s Strategy has announced a $21 billion at-the-market offering of its Series A preferred stock to purchase additional bitcoin, boosting its already significant holdings. Currently, the price of bitcoin is above $83,000 after a recent dip, and Strategy is the largest corporate holder with nearly 500,000 tokens valued at around $42 billion. Despite the positive news, MSTR shares have fallen by 5.5% in premarket trading and are down 50% from their peak in late November.
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