Michael Saylor’s Strategy Inc. bought $39.4 million of Bitcoin, leveraging common stock to fund purchases for a third straight week. This move contradicts earlier plans to shift to perpetual preferred shares, highlighting a continued reliance on equity financing despite market volatility. The company’s strategy underscores its aggressive stance on Bitcoin as a treasury reserve asset. $39.4 million represents a significant portion of the firm’s liquidity, reflecting confidence in crypto’s long-term value amid broader market uncertainty.

Investors are closely watching whether this approach will pay off as Bitcoin prices fluctuate.