Mentioned:
Michael Saylor and Strategy keep finding innovative ways to raise fresh cash for more Bitcoin buys. And they aren’t showing any signs of slowing down either.
What’s happening:
- Strategy (NASDAQ: MSTR) has publicly announced new plans to raise an additional $500M USD for the sole purpose of acquiring more Bitcoin
By the numbers:
- Strategy plans to raise $500M USD through issuing 5M shares of Series A Perpetual Strife Preferred Stock
- The Series A Perpetual Strife Preferred Stock will pay a 10% fixed annual dividend rate which is payable in cash
- Currently, Strategy holds 499,226 Bitcoin
Why it matters:
- Strategy is the single largest holder of Bitcoin amongst publicly traded companies globally and continues to aggressively raise new capital through both equity and debt to accumulate more Bitcoin to hold directly as an asset
Going deeper:
- Publicly listed companies purchasing Bitcoin continues to be a major theme, which just recently led to popular video streaming platform Rumble (NASDAQ: RUM) buying approximately $17M USD of Bitcoin for the first time
