Michael Saylor Outlines the Main Points of His Bitcoin Bet Strategy
U.Today: Michael Saylor’s strategy involves pooling money using every available technique to increase its enormous Bitcoin holdings. Strategy announced the debut of STRF (“Strife”), a new perpetual preferred stock offering, to institutional and a limited number of noninstitutional investors at the start of the week on March 18. In contrast to the original STRK, the most current series of preferred stock has a greater coupon (10% vs. 8%) and no common share conversion clause.
According to the strategy, the offering’s net proceeds will be utilized for working capital and other business objectives, such as purchasing Bitcoin.
On Friday, Strategy revealed the Strife Perpetual Preferred Stock (STRF) offering’s price, increasing the deal’s size from $500 million to $722.5 million. Originally seeking to finance $500 million, Strategy raised roughly $711.2 million by selling 8.5 million shares of its Series A Perpetual Strife Preferred Stock for $85 each.
The corporation has more over 499,200 Bitcoin at the time of the latest check, thus the planned next round of purchases might increase the Strategy stockpile to 500,000 BTC.
Everybody wants a winning plan.
Michael Saylor, the chairman and cofounder of Strategy, announced on X on Friday the company’s most recent action to buy more Bitcoin: the sale of Perpetual Strife Preferred Stock to raise $722.5 million.
“Everyone wants a winning strategy,” Saylor stated in his subsequent tweet, which may help to explain plan’s quest to acquire Bitcoin.
MicroStrategy has become one of the biggest institutional Bitcoin holdings under Saylor’s direction. Since late October, the enterprise software company that is now a leveraged Bitcoin proxy has been purchasing Bitcoin, and as of right now, its holdings total more over $42 billion.
Strategy has laid out its plans to raise $42 billion over the next few years by selling securities to acquire Bitcoin, with a growing emphasis on its capacity to offer fixed-income assets.
At press time, Bitcoin was valued at $84,386.
This content was originally published on U.Today
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