Strategy Quadruples Bitcoin Purchase Funds to $2 Billion

Strategy Inc. (formerly MicroStrategy) announced an expansion of its Series A perpetual preferred stock (STRC) issuance from the initial $500 million to $2 billion. According to a report by Bloomberg on the 24th, this move comes in response to strong demand for Bitcoin-related stocks. Morgan Stanley, Barclays, Moelis, and TD Securities are serving as the lead underwriters for this issuance of stretch stocks. The funds raised are intended to be fully allocated to additional Bitcoin (BTC) purchases. Related: Strategy to Expand Bitcoin Investments with New Preferred Shares 'STRC' - What Do Experts Say? The price per stretch stock is $90...