Mentioned:
There are tens of billions of dollars coming to buy more Bitcoin soon. And it’s all part of Michael Saylor’s plan for leveraging the traditional public markets to accumulate as much Bitcoin as possible.
What’s happening:
- MicroStrategy (NASDAQ: MSTR) has announced plans to raise up to $42 Billion in new capital to acquire more Bitcoin to hold directly as an asset
By the numbers:
- MicroStrategy will raise up to $21B USD through a new at-the-market equity offering
- MicroStrategy plans to raise up to another $21B USD through fixed income and debt offerings over the next 36 months
- Currently, MicroStrategy owns 252,220 Bitcoin which is more than any other publicly traded company in the world
Why it matters:
- This is the largest financing ever for the sole purpose of acquiring more Bitcoin in the history of the traditional public markets
Going deeper:
- MicroStrategy has become such a highly traded stock that new ETFs have been launching to provide even more leveraged exposure to MicroStrategy’s share price, including the notable launch of Defiance Daily Long MSTR ETF (NASDAQ: MSTX) which has rapidly grown to hundreds of millions of dollars in assets under management since officially listing
The intrigue:
- Bitcoin accumulation has been rampant recently from large capital allocators and institutions, with the first ever American university being revealed to own exposure to spot Bitcoin ETFs through recent filings with the United States Securities and Exchange Commission
