The bitcoin price jumped past $89,000 on Monday morning, but Strategy, the biggest corporate holder of the cryptocurrency, said it raised nearly $750 million last week with a stock sale to prepare for a potential bitcoin winter. Strategy's sale of 4.5 million shares of common stock last week came as once-highflying MSTR stock saw its lowest close since September 2024. Strategy has been issuing a ton of common stock — raising nearly $4.1 billion so far in Q4 by selling 23 million shares — because doing so after it potentially loses its valuation premium vs. its bitcoin holdings would be much more costly.