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Breaking: MicroStrategy to Raise $722 Million in Stock Sale to Fund Bitcoin Holdings
MicroStrategy, a prominent bitcoin bull and corporate investor, has announced plans to raise $722 million through a stock sale. The funds will be used to further bolster the company’s massive bitcoin holdings.
In a recent move that highlights its unwavering commitment to the digital currency, MicroStrategy, a business intelligence company, has stated it intends to sell shares worth $722 million. This significant influx of capital will enable the firm to augment its existing treasury, which already comprises over 129,000 BTC – an amount now valued at more than $33.1 billion.
As the world’s largest publicly traded corporate owner of bitcoin, MicroStrategy’s bold approach has sent a strong signal to the market, encouraging other companies to follow suit. Michael Saylor, CEO and one of the most prominent advocates for Bitcoin adoption in treasury reserves, reaffirmed the company’s commitment to retaining its BTC holdings over the long term.
The $722 million injection is expected to further solidify MicroStrategy’s position as a key player in the cryptocurrency space.
Source: https://u.today/breaking-strategy-to-raise-722-million-in-strife-sale-to-buy-bitcoin
