MicroStrategy has funded 94% of its Bitcoin acquisitions since August through the dilution of common shares, according to Michael Saylor. The company issued 3,278,660 shares, raising $1.13 billion for Bitcoin purchases. Despite this strategy, MicroStrategy's stock has underperformed Bitcoin by 800 basis points since August 18. Saylor adjusted the company's guidance on July 31, allowing for share dilution when deemed advantageous, resulting in a significant increase in share count and a decline in MSTR's stock price.
MicroStrategy Funds 94% of Bitcoin Purchases Through Share Dilution
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