Strategy, led by Michael Saylor, sold $263.5 million in common stock last week to expand its cash reserve to $3.225 billion, rather than buying more Bitcoin. This marks a four-week pause in BTC purchases, impacting quarter-to-date performance metrics negatively.
Public companies holding Bitcoin, like Strategy and Metaplanet, face increased investor scrutiny over financing methods. The market now prioritizes "Bitcoin per fully diluted share" over mere accumulation, leading to mNAV compression and forcing companies to defend shareholder value amid dilution and preferred dividends.
Strategy raised $335.5M via stock sales, placing most proceeds into cash to support its preferred securities financing Bitcoin purchases. The move follows a sharp selloff in its STRC preferred shares, highlighting a shift in capital strategy.
Strategy reported a massive first-quarter loss after Bitcoin’s early-year drawdown overwhelmed its software revenue, even as Michael Saylor pointed to internal Bitcoin metrics showing continued gains in shareholder exposure. The company, formerly known as MicroStrategy, reported a net loss attributable to common stockholders of $12.77 billion, or $38.25 per diluted share, for the first quarter. […] The post Strategy to “sell some Bitcoin” after posting $12.7 billion Q1 loss as Saylor points to $5 billion Bitcoin gain appeared first on CryptoSlate.
Strategy reported a massive first-quarter loss after Bitcoin’s early-year drawdown overwhelmed its software revenue, even as Michael Saylor pointed to internal Bitcoin metrics showing continued gains in shareholder exposure. The company, formerly known as MicroStrategy, reported a net loss attributable to common stockholders of $12.77 billion, or $38.25 per diluted share, for the first quarter. […] The post Strategy posts $12.7 billion Q1 loss as Saylor points to $5 billion Bitcoin gain appeared first on CryptoSlate.
