MicroStrategy, under the leadership of Michael Saylor, has issued 875,301 new shares, diluting its stock despite a prior commitment to shareholders not to do so. This move comes as the company recently purchased $357 million worth of Bitcoin, acquiring an additional 3,000 bitcoins and increasing its holdings to 3% of the total Bitcoin supply. The new share issuance was conducted through an at-the-market offering, which was previously stated as prohibited in the company's Q2 2025 earnings presentation. The stock's decline has been linked to these developments, as MicroStrategy funds its Bitcoin acquisitions by selling common stock for the first time in nearly a month.