- MicroStrategy CEO Michael Saylor reveals plans to raise $2 billion to buy more Bitcoin.
- Bitcoin price is trading at $98,180, moving closer to the $100K mark.
Microstrategy never missed making headlines for the past few years with its constant BTC purchases. To further continue its Bitcoin shopping spree, its CEO Michael Syalor recently announced plans to raise another $2 billion.
The fact that MicroStrategy raised around $3 billion with 0% convertible note offering is well known in the industry. It seems like this firm is coming up with new ways to raise funds, solely to acquire more Bitcoin.
MicroStrategy has acquired 2,138 BTC for ~$209 million at ~$97,837 per bitcoin and has achieved BTC Yield of 47.8% QTD and 74.1% YTD. As of 12/29/2024, we hodl 446,400 $BTC acquired for ~$27.9 billion at ~$62,428 per bitcoin. $MSTR https://t.co/58aXM7g6u2
— Michael Saylor(@saylor) December 30, 2024
The latest news came to light when Michael Saylor posted on X revealing their plans to raise $2 billion. This time, the firm is planning to raise funds through public offering of perpetual preferred stock. As per the official announcement from its website, the perpetual preferred stock includes, but not limited to, following features.
- Convertibility to their class A common stock
- Payment of cash dividends
- Provisions allowing for redemptions of shares
MicroStrategy Plans to Acquire More Bitcoin in Q1 2025
Microstrategy’s latest announcement to raise $2 billion is to buy more Bitcoin in Q1 2025. The announcement says,
So far, MicroStrategy holds 446,000 Bitcoins acquired for $27.9 billion at an average price of $62,428 per BTC. This includes the most recent purchase of 2,138 BTC by MSTR on Dec 30, 2024. Its founder Michael Saylor is one of the biggest proponents of Bitcoin, believing in its strong fundamentals.
MicroStrategy emerged to be one of the benchmark firms in the industry with its relentless BTC acquisition. It even entered the Nasdaq-100 index, along with two other firms, Palantir Technologies Inc. and Axon Enterprise.
MicroStrategy has come a long way since it first started to Bitcoin in 2020 and will continue to do the same. Its founder Michael Saylor’s commitment to Bitcoin set an example to other global organizations, inspiring them to follow its footsteps.
