Strategy Inc. disclosed a $980 million purchase of 10,645 bitcoins last week, bringing its total holdings to 671,268 BTC. Despite the buy, shares fell 7% to $164 as Bitcoin dropped 3% to $86,200. The company funded the purchase by selling nearly 4.8 million shares and preferred stock, raising $989 million. Investors cited dilution and funding concerns as reasons for the stock’s decline.
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