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Strategy lifts latest preferred stock sale to $2 billion for more Bitcoin buys
CryptoSlate has reported that Strategy, a renowned software company specializing in enterprise analytics, mobility software, and cloud-based services, has successfully completed its most recent preferred stock offering, grossing an impressive $2 billion. This significant influx of capital will enable the company to further expand its Bitcoin (BTC) holdings.
The successful completion of this offering is seen as a testament to the ever-growing appetite for cryptocurrency investing among institutional investors and individual speculators alike. With Strategy’s commitment to increasing its Bitcoin reserves, it appears that the company intends to continue fueling its growth by accumulating more BTC.
Strategy’s common stock has demonstrated impressive gains, rising by approximately 37% year-to-date and a whopping 146% over the past 12 months. This exceptional performance has contributed to an increase in the firm’s market capitalization to roughly $116 billion.
It is not surprising that Strategy would opt for such a massive investment given its proven track record of prioritizing Bitcoin adoption. As part of this endeavor, the company has created multiple share classes to facilitate the acquisition of additional BTC.
As reported by CryptoSlate, Michael Saylor, the executive chairman of Strategy, has been instrumental in driving the growth and success of the organization.
Source: cryptoslate.com
