Strategy, the Bitcoin-Buying Company, Raises $1.44 Billion to Weather Crypto Downturn

Strategy, led by Michael Saylor, said Monday that it has raised $1.44 billion through a stock sale to help ensure it can meet future dividend and debt-interest payments. None of this appears to be helping Strategy’s stock performance, which has lost nearly half its value this year. The company’s market cap has dropped from a peak of $128 billion in July to $49 billion now, which is $7 billion below the value of its bitcoin holdings.