The US-based development and business intelligence company will continue with its plan to build its bitcoins, implementing its strategy of getting significant investments in cryptocurrencies.
Despite collecting a huge amount BitcoinMicroStrategi plans to increase its BTC funds using the estimated $2 billion it will generate from the preferred stock offering.
Plan 21/21
MicroStrategy announced in a press statement that it plans to sell some of its shares through a preferred stock offering. The company aims to raise funds to fund additional bitcoins as part of its bold “21/21” plan.
“MicroStrategi aims to raise up to $2 billion in capital through a public offering of perpetual preferred stock in the first quarter of 2025,” said MicroStrategi co-founder Michael Saylor.
The company said it will raise $2 billion in “one or more public offerings” of perpetual preferred stock on MicroStrategi class A common stock.
“Perpetual preferred stock may include features such as (i) convertibility into our Class A common stock, (ii) payment of cash dividends, and (iii) stock repurchase provisions, among other features,” explains MicroStrategi.
Other ways to finance cryptocurrency purchases
MicroStrategi said it is looking at other options to meet its plan to raise $21 billion in equity and $21 billion in fixed-income instruments, a move that is part of the company’s strategy to buy more bitcoin.
The business intelligence firm is pursuing this plan such as obtaining funds from senior convertible notes and debt, allowing the company to continuously acquire additional digital assets. The offer is expected to happen, if at all, in the first quarter of 2025, the company said.
MicroStrategi explained that the planned offering will “strengthen its balance sheet and get more bitcoins.”
However, MicroStrategi noted that it may decide whether or not to proceed with the offer.
“The decision whether to proceed with the Offer and to pursue it is at the sole discretion of MicroStrategi and is subject to market and other conditions,” the company said.
Source: Bitcoin Treasuries
Biggest bitcoin holder
The data showed that MicroStrategi is already the world’s largest corporate owner of bitcoin, yet despite this milestone, the company remains committed to acquiring more cryptocurrencies.
Saylor, who is also the company’s executive chairman, is the mastermind behind MicroStrategi’s Bitcoin investment strategy.
To date, MicroStrategi owns 446,400 Bitcoins with an estimated value of $43.9 billion.
Featured image from MicroStrategi, chart from TradingView
