Strategy reported its fourth-largest Bitcoin purchase of the year, acquiring 2,500 BTC for $168 million and raising its total holdings to approximately 717,100 Bitcoin, valued at about $48 billion as the price of Bitcoin dipped near $67,000. This purchase was financed partly through the issuance of $90.5 million in common stock and $78.5 million in preferred shares, reflecting a shift in the company’s strategy towards leveraging preferred stock for Bitcoin acquisitions. Amid growing scrutiny regarding its substantial $8.2 billion convertible debt, co-founder Michael Saylor defended the company’s stability during a viral exchange on CNBC, asserting that Strategy would not need to sell Bitcoin even during severe downturns, which has drawn significant attention and skepticism from investors.
Strategy accelerates Bitcoin purchases, acquiring 2,500 BTC worth $168 million
