On the sidelines from purchasing additional bitcoin (BTC) for the past couple of weeks, Michael Saylor’s Strategy (STRK) is at it again.
The company during early Monday U.S. hours announced a $21 billion at-the-market (ATM) offering of its Series A preferred stock (STRK), proceeds of which would mostly be used for buying additional bitcon.
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The news gave a small boost to bitcoin, which — amid yet another panicky Sunday session — traded as low as $80,000 a few hours ago. It’s currently changing hands at just above $83,000.
Strategy by a mile is the largest corporate holder of bitcoin, with just shy of 500,000 tokens worth about $42 billion at bitcoin’s current price.
MSTR shares are lower by 5.5% in premarket action and down about 50% from a record high hit in late November.