Strategy Adds $50M in Bitcoin as Bottom Signs for the Stock Emerge

MicroStrategy (MSTR), the largest corporate holder of Bitcoin, announced it purchased $49.9 million worth of BTC last week, bringing its total holdings to 641,692 coins, valued at over $68 billion at current prices. This purchase was funded partly by tapping its at-the-market program for its STRC preferred stock, raising $26.2 million after recently increasing the annualized dividend rate for STRC to 10.5% paid monthly. The company's common stock has recently suffered as its premium over the value of its Bitcoin holdings diminished, a trend noted by short-seller Jim Chanos, who recently closed his successful short trade against MSTR. MSTR shares saw a premarket rise of 3.2% following a weekend increase in Bitcoin's price above $106,000.

(Source：CoinDesk)