Michael Saylor and his company, Strategy, are under fire from shareholders following the disclosure of a $27 million deposit for a new corporate jet, as revealed in a recent SEC filing. This decision has sparked backlash amid a 40% drop in Strategy's stock price this year and a decline in Bitcoin's value. Critics argue that the funds could have been better spent on acquiring 300–350 Bitcoin.
The company recently raised $1.478 billion, primarily for debt and dividend reserves, yet its modified net asset value has decreased to 0.87x, trading below its Bitcoin holdings. Saylor has defended the jet purchase, describing it as a minor expense necessary for the company's global operations.
Michael Saylor Faces Investor Criticism Over $27M Jet Purchase
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