MicroStrategy announces funding plans totaling $44.1 billion for Bitcoin buys, including sales of common shares and preferred stocks.
MicroStrategy, led by Michael Saylor, announced plans to raise up to $44.1 billion to fund additional Bitcoin purchases, as detailed in a filing to the U.S. Securities and Exchange Commission.
The company intends to sell up to $21 billion in MicroStrategy (MSTR) common shares and another $21 billion in its high-yield perpetual preferred stock, Stretch (STRC), through at-the-market programs.
Additionally, MicroStrategy plans to sell up to $2.1 billion worth of another perpetual preferred stock, Strike (STRK), with sales occurring from time to time as needed.
This year, MicroStrategy has already added 90,000 Bitcoin to its balance sheet, including a recent purchase of 1,031 Bitcoin for $76.6 million on Monday.
Recent Acquisitions and Holdings
Prior purchases this month include 17,994 Bitcoin on March 9 and 22,337 Bitcoin on March 16, totaling $2.9 billion in investments.
MicroStrategy now holds 762,099 Bitcoin, valued at $54 billion, as part of its strategy to use preferred stocks for funding without issuing more common shares.
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