On March 26, according to the Securities Exchange Commission disclosure document, several Strategy (formerly MicroStrategy) insiders bought its newly launched preference shares, involving the company's CEO, CFO and other executives, among which CEO Phong Le bought 6,000 preference shares at a price of $85, Chief Financial Officer Andrew Kang bought 1,500 shares, and General Counsel Wei-Ming Shao bought 500 shares. Strategy previously announced that it would issue 5 million Series A Perpetual Strife Preferred Stock with a par value of $100 per share, and it would receive $500 million in incremental funds to implement the Bitcoin strategy, but then increased the issuance to 8.50 million shares, and the price per share was also reduced to $85.