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Title: MicroStrategy Doubles Down on Bitcoin With $1 Billion Stock Offering and 582,000 BTC Holding
MicroStrategy’s unwavering commitment to Bitcoin has once again been demonstrated by a massive stock offering. On June 9, the enterprise software giant revealed plans to raise up to $1 billion in fresh capital through an issuance of 11.76 million shares of its new 10% Series A Perpetual Preferred Stock at a price of $85 per share. This is not only a significant increase from their initial planned $250 million stock offering but also reflects the company’s unwavering dedication to Bitcoin.
In recent weeks, MicroStrategy has been aggressively accumulating vast amounts of cryptocurrency, with its total holdings now standing at an astonishing 582,000 BTC. With an average purchase price of $70,086 per coin and a staggering unrealized profit of $21.9 billion, it is clear that the company’s executive chairman and co-founder Michael Saylor remains steadfast in his vision for Bitcoin.
These recent transactions have led to speculation among crypto enthusiasts about what could be the next move for MicroStrategy.
Source: nulltx.com
