Michael Saylor's Strategy Inc. didn’t always look like a Bitcoin giant. It started as a pretty standard business intelligence software company. Until 2020 changed everything. That’s when Saylor made a bold call to move the company’s treasury into Bitcoin. What began as an inflation hedge quickly turned into a full-blown strategy. Strategy kept buying Bitcoin using cash, then debt, then equity. In a new filing on March 23, the company outlined a $42 billion at-the-market (ATM) capital program, split across equity and preferred stock offerings. Fast forward to today, and it’s no longer just a software firm. It’s ... (full story)