No, there will be more shares so the existing shareholders will be diluted by the latest issuance.
Got to love inflating shares in your own company to facilitate buying an asset that can not be inflated.
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Mstr is just a bitcoin etf at this point, so that logic makes less sense.
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Dilution makes sense for existing investors if their overall value of their holdings has gone up. 10% of a company valued at 10M is worse than 8% of a company valued at 100M.
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