Strategy just cashed in big time, selling 2.7 million shares for $263.5M to boost its war chest to over $3.2B — all while leaving its Bitcoin stash untouched. Still holding 843,775 coins bought for $63.69B at an average cost of $75,476 each, they’re quietly managing funds and probing how to value their preferred stock, which some believe is undervalued and could soar if Bitcoin climbs.

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