Funding
Strategy Seeks More Bitcoin Purchases Through Preferred-Share Offerings
Bitcoin treasury company Strategy is planning to finance more Bitcoin purchases through preferred-share offerings, with executive chairman Michael Saylor stating the company has the capacity to create up to $30 billion in digital credit. The company, which reported $19.53 billion in net income in the third quarter, could generate the amount using its existing balance sheet, without an additional common-stock capital raise or further Bitcoin price appreciation. CEO Phong Le indicated that issuing digital credit would be the main method for acquiring more Bitcoin.