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KindlyMD shares drop after $5 billion stock sale program filing
KindlyMD filed with the U.S. Securities and Exchange Commission (SEC) on August 26 to sell up to $5 billion of common stock through an at-the-market program. The company plans to use proceeds for Bitcoin purchases and general corporate purposes. 
Unpacking MicroStrategy’s Bitcoin Strategy and Its Risks
Initially established as a business analytics software provider in 1989, MicroStrategy saw its shares plummet during the dot-com bubble. By 2020, the company had transformed, becoming the first publicly traded сompany to hold Bitcoin in its treasury. 
MicroStrategy has acquired 1,070 BTC at an average price of $94,004 per coin, further solidifying its status as the largest corporate Bitcoin holder. Executive Chairman Michael Saylor announced the update on X (formerly Twitter), where he often shares the company’s Bitcoin investments. 
CoinShares has criticized MicroStrategy’s decision to pursue $42 billion in Bitcoin acquisitions, suggesting that the company should focus more on financial stability and bond attractiveness. MicroStrategy plans to fund the purchases by selling shares steadily over the next three years. 
Hedera became the first founding member of the Linux Foundation's Decentralized Trust (LFDT), transferring control of its source code, including core services, algorithms, and tools, to the foundation. This collaboration will be part of a new project called Hiero.