Strategy (formerly MicroStrategy) raised $335. 5 million by selling common stock last week, then placed almost 90% of the proceeds into cash rather than Bitcoin as the company moved to shore up the preferred securities financing its cryptocurrency purchases. The company sold about 2.
Source: [CryptoSlate](https://cryptoslate.com/strategy-used-300-million-mstr-dilution-backstop-bitcoin-buying-machine/)