Strategy Shares Tumble Following Latest Bitcoin Purchase

Investors have delivered a sharp rebuke to software conglomerate Strategy after its most recent acquisition of Bitcoin, sending the company’s stock to a five-month low. The negative market reaction stems from the method of financing: the $100 million purchase was funded by issuing new shares, a move many existing shareholders view as dilutive to their holdings.

Between September 15th and 21st, the company added 850 Bitcoins to its treasury at an average price of $117,344 per coin. This latest buying spree was financed through the sale of 227,401 common shares, which raised $80.6 million, supplemented by an additional $19.4 million from the issuance of preferred stock. This established pattern of raising capital through equity sales to fund digital asset acquisitions is increasingly drawing criticism from the market.