Michael Saylor signals another bitcoin buy as Strategy sits about $13 billion underwater
The Block •
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Promote with Leviathan News$335.5M of ATM issuance for $34.9M of BTC is a very different machine than the old infinite-buy meme. The marginal buyer is now underwriting STRC at distressed yields, a $1.4B USD reserve, and common dilution before they get exposure to the 847,363 BTC stack. BTC still gets a Saylor bid, but it now comes wrapped in credit-market fragility, and that reflexivity cuts both ways when MSTR trades like a funding vehicle instead of spot beta.
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