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Michael Saylor Conjures Stock Market Magic With Giant Plan to Buy More Bitcoin

Normally, a $21 billion equity offering by a company only worth just over double that amount would tank the issuer's stock price. But the economics around corporate America's biggest bitcoin bull are different.

Michael Saylor, the co-founder and executive chairman of MicroStrategy, at Bitcoin 2024 in Nashville, Tennessee (CoinDesk/Danny Nelson)
Michael Saylor, the co-founder and executive chairman of MicroStrategy, at Bitcoin 2024 in Nashville, Tennessee (CoinDesk/Danny Nelson)