MicroStrategy has announced plans to raise more capital to purchase more Bitcoin for its treasury. This is a supplementary plan to the company’s $42 billion fundraising campaign for BTC purchases.

MicroStrategy To Raise Up To $2 Billion For Bitcoin Purchases

In a press release, MicroStrategy announced its plan to raise up to $2 billion to acquire more Bitcoin. The software company mentioned that this capital raise would be carried out through one or more public underwritten offerings of perpetual preferred stock.

The press release also noted that the purpose of the offering is to allow the company to strengthen its balance sheet and acquire more Bitcoin. The public offering will take place in the first quarter of 2025 if they proceed with the fundraising plan.

The software company remarked that the decision to proceed with and consummate the public offering is in its sole discretion and is subject to market and other conditions. As such, MicroStrategy may choose not to proceed with or consummate the public offering at all.

Last year, the company announced plans to raise $42 billion over three years to buy more Bitcoin. This latest proposed capital raise is in furtherance of that initial plan, meaning that the company could raise up to $44 billion for more BTC purchases.

Michael Saylor’s company has purchased Bitcoin for eight consecutive weeks. This week, it announced that it acquired 2,138 BTC for $209 million. MicroStrategy currently holds 446,400 BTC and is the public company with the largest Bitcoin holding.

The post MicroStrategy To Raise Up To $2B To Acquire More Bitcoin appeared first on CoinGape.

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Filed under: News - @ January 3, 2025 10:16 pm