MicroStrategy Plans to Raise $21 Billion for Bitcoin Acquisition
- MicroStrategy, now known as Strategy, aims to raise $21 billion to purchase more Bitcoin.
- The company will issue shares of its 8.00% series A perpetual strike preferred stock at $0.001 par value per share.
- Proceeds from the sales will be used for general corporate purposes, including acquiring Bitcoin and working capital.
- The MSTR stock price is currently trading at around $271, down over 5% in pre-market trading.
- Bitcoin’s price briefly surged to $84,000 following the announcement.
MicroStrategy plans to raise $21 billion through a stock issuance to buy more Bitcoin, despite its stock being down by over 14% in the past month. The company holds 499,096 bitcoins acquired for $33.1 billion.
Source (2.6)https://coingape.com/microstrategy-to-raise-21-billion-to-buy-more-bitcoin/?rand=24432
