MicroStrategy and Strive Buy More Bitcoin, but Shareholders Could Feel the Pain

Strategy (formerly MicroStrategy) and rival Strive are starting November with more Bitcoin. However, the latest purchases reveal a growing concern for MicroStrategy shareholders. Their share of the company’s Bitcoin holdings is shrinking. Both companies announced new purchases on Monday, November 2. Strategy bought 811 BTC for $65.5 million, bringing its total holdings to 849,327 BTC. Strive added another 124 BTC, taking its holdings to 43,124 BTC. Yet the impact on their shareholders was remarkably different. Why MicroStrategy Shareholders Could Lose Out Strategy sold approximately 1.18 million new MSTR shares to raise $164 million. It used just $65.5 million to buy Bitcoin and kept the remainder as cash. To put it simply, Strategy created new shares faster than it added Bitcoin.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to BeInCrypto.