Saylor’s Strategy Resumes Using Common Shares to Buy Bitcoin

Michael Saylor’s Strategy is using common shares again to help finance the crypto treasury firm’s purchases of Bitcoin following criticism of the practice by renowned short-seller Jim Chanos.

The company formerly known as MicroStrategy Inc. said Monday it acquired $531.9 million of Bitcoin in the seven days ended June 29. It was the first now-almost-weekly purchase announcement since May that noted that the company sold common shares through an at-the-market sales program to fund the buying. It also sold two classes of preferred stock, the Tysons Corner, Virginia-based Strategy said in a US Securities and Exchange Commission filling. It owns about $64 billion in Bitcoin.