Michael Saylor’s Bitcoin holding company, Strategy, upsized its new preferred stock from $500 million to $2.8 billion, offering a 9% annual payout with no end date. Saylor continues to raise funds to acquire more Bitcoin, with 600,000 coins valued at around $70 billion. The company’s unique capital structure includes various financial instruments like Stretch, which allows the firm to adjust dividends monthly to maintain a share price near $100. Despite a decrease in the company’s value relative to Bitcoin, the demand for Stretch remains high, showing Saylor’s influence and market speculation. Morgan Stanley, Barclays Plc, Moelis & Co. and TD Securities worked on the deal.

Read more at Yahoo Finance: Michael Saylor Amps Up Bitcoin War Chest With $2.8 Billion Deal