Michael Saylor Doubles Down on Bitcoin with $1 Billion Stock Offering

Strategy, the world’s largest publicly traded Bitcoin holder, has doubled down on its cryptocurrency investment with a new stock offering worth nearly $1 billion. The move will fund further Bitcoin purchases and bolster the company’s overall treasury. 11,764,700 shares of 10% Series A Perpetual Stride Preferred Stock will be offered to the public at a price of $85 per share. The offering is expected to raise approximately $979.7 million after accounting for underwriting fees.