Michael Saylor, founder of Strategy (formerly MicroStrategy), diluted his company's stock by $735.20 million just two weeks after promising not to dilute ordinary shareholders. On July 31, 2025, Saylor and its executives assured shareholders at Strategy's second-quarter earnings conference that the company would not dilute its stake in order to buy Bitcoin (BTC) when the MSTR multiple of net assets (mNAV) was between 1 and 2.5 times, unless it was to pay interest or dividends.
Strategy(前身为 MicroStrategy)创始人 Michael Saylor 在承诺不稀释普通股东仅两周后,就将公司股票又稀释了 7.352 亿美元。 2025 年 7 月 31 日,Saylor 与其高管在 Strategy 的第二季度财报发布会上向股东保证,公司不会在 MSTR 的净资产倍数(mNAV)处于 1 倍至 2.5 倍之间时,为了购买比特币(BTC)而稀释股份,除非是用于支付利息或股息。