MicroStrategy, the world’s largest public Bitcoin holder, seeks to raise $2 billion by selling class A shares to buy more Bitcoin and repay debt. The Virginia-headquartered company filed this regulatory filing on August 1, aiming to bolster its crypto strategy as Bitcoin continues its upward trend.
In its filing with the U.S. Securities and Exchange Commission, MicroStrategy detailed plans to use the proceeds for general corporate purposes, including acquiring Bitcoin. The company did not specify the exact amount for Bitcoin purchases.
MicroStrategy’s Q2 financial results reveal they acquired 12,222 BTC, spending over $805 million. This acquisition brings their total holdings to 226,500 BTC, purchased at a cumulative cost of $8.3 billion. The company also introduced a new KPI, “BTC Yield,” targeting annual returns of 4-8% over the next three years.
Historically, MicroStrategy has used share sales to fund Bitcoin acquisitions, including $750 million in late 2023. Their commitment to a Bitcoin-centric strategy underscores their long-term vision.
