MicroStrategy shares showed resilience near $128.00 as the company’s market capitalization fell below the value of its 717,131 Bitcoin treasury. The firm is shifting its financing strategy to preferred stock and debt-to-equity conversions to support continued asset accumulation.
- CEO Phong Le announced a strategic pivot toward issuing preferred stock rather than common equity to sustain the company's aggressive Bitcoin purchases.
- Executive Chairman Michael Saylor addressed investor concerns by confirming plans to convert convertible debt into equity, aiming for long-term stability of the firm's reserves.
- Despite a broader downturn across the digital asset market, the stock maintained its position near the $128.00 mark.