Mentioned:
MSTR -6.80% MARA -11.24%
Michael Saylor is on a relentless path of using the traditional public markets to buy more Bitcoin. And he’s not stopping anytime soon.
What’s happening:
- MicroStrategy (NASDAQ: MSTR) has announced they will raise up to $2B USD in new capital through public offerings of perpetual preferred stock
Why it matters:
- This is the first time ever that MicroStrategy will raise capital through perpetual preferred stock, which is often favoured by insurance companies, pension funds, banks and other large institutional investors
- MicroStrategy has been relentlessly buying more Bitcoin and has been raising capital at a ferocious pace ever since first embarking on their hyper ambitious plan to raise up to $42B USD through equity and debt financings
By the numbers:
- MicroStrategy currently holds 446,400 Bitcoin, which is more than any other publicly traded company in the entire world
Going deeper:
- MicroStrategy has also been largely credited with influencing numerous other publicly traded companies to begin raising capital for the sole purpose of buying Bitcoin, which has lead to large scale purchases from MARA Holdings (NASDAQ: MARA) and Riot Platforms (NASDAQ: RIOT)
