Strategy Buys 535 Bitcoin With $43 Million Stock Sale as Saylor Taunts Short Sellers
Updated
Updated · MarketWatch · May 11
Strategy Buys 535 Bitcoin With $43 Million Stock Sale as Saylor Taunts Short Sellers
9 articles · Updated · MarketWatch · May 11
$43 million funded Strategy’s latest bitcoin purchase—535 tokens bought in the week ended May 10 after the company paused buying the prior week.
231,324 common shares and a small preferred-stock sale supplied the cash, underscoring Michael Saylor’s claim in an X rap video that Strategy uses the equity market “as an ATM” for bitcoin buys.
Saylor also aimed the video at short sellers days after saying Strategy would “probably sell some bitcoin to fund a dividend” if needed, a notable shift from his February vow not to sell.
Investors have largely tolerated the dilution because it increases their bitcoin exposure: MSTR rose 3.3% Monday and is up 81.1% since Feb. 5, outpacing bitcoin’s 28.4% rebound.
Michael Saylor now hints at selling Bitcoin. What does this mean for his 'never sell' promise and the company's future?
How can Strategy’s stock soar after the company reported a massive $12.5 billion quarterly loss?
Is using the stock market as a Bitcoin 'ATM' a visionary corporate strategy or a house of cards?