Serer's Strategy company is using preferred stock financing to increase its holdings of more Bitcoin.

Michael Saylor's company, Strategy, purchased nearly $170 million worth of Bitcoin from February 9-16, with over $78 million of the funds raised through the market issuance of its "Stretch" preferred stock, the highest proportion since November last year. In the past four weeks, the company has sold approximately $543 million worth of common stock and $85 million worth of perpetual preferred stock in Bitcoin purchases. Currently, Strategy holds nearly $8.5 billion worth of outstanding preferred stock, holding over 717,000 bitcoins valued at around $49 billion.