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MicroStrategy Eyes $2 Billion Stock Offering to Supercharge Bitcoin Stash
US-based development and business intelligence company MicroStrategy has announced plans to raise funds through a preferred stock offering to fuel its massive Bitcoin investment strategy.
According to reports, the company aims to generate approximately $2 billion in funding, which it will utilize to bolster its Bitcoin holdings. This move is seen as a significant step towards achieving the firm’s ambitious goal of amassing an enormous 21 billion dollars in equity and fixed-income instruments.
As part of this plan, MicroStrategy has revealed that it may also consider other financing options to support its cryptocurrency purchase endeavors. The company has been actively acquiring Bitcoins in recent times, with its current holdings amounting to a staggering 446,400 units valued at approximately $43.9 billion.
Notably, the proposed stock offering is contingent on market and other conditions, which implies that the decision to proceed with the transaction rests solely with MicroStrategy’s leadership.
This move underscores the company’s commitment to Bitcoin investment, with its executive chairman, Saylor, spearheading this strategy. At present, MicroStrategy holds the distinction of being the world’s largest corporate holder of Bitcoin.
In other news related to the Bitcoin market, it has been reported that a significant demand for the cryptocurrency has been observed in recent times, particularly among retail traders and institutions alike.
Source: bitcoinist.com
