MicroStrategy (MSTR) has expanded its bitcoin holdings to a total of 471,107 BTC following another week of strategic purchases. The company, under the leadership of Executive Chairman Michael Saylor, bought an additional 10,107 BTC, bringing the total number of bitcoins held to an impressive figure. This purchase, which took place during the week ending January 26, was made at an average price of $105,596 per bitcoin, raising the company’s average purchase price to $64,511.
In addition to this acquisition, MicroStrategy has announced a new funding initiative by launching a preferred stock offering of approximately $250 million. This Series A Perpetual Preferred Stock (STRK) will offer an 8% cumulative preferred dividend and is convertible into one-tenth of one share of Class A common stock, with a conversion price set at $1,000 per share.
The announcement follows a series of strategic decisions made by MicroStrategy, including the approval by its shareholders to increase the authorized number of Class A common shares from 330 million to 10.3 billion. The company has also filed a mixed securities shelf registration that includes not only Class A common stock but also debt securities, preferred stock, warrants, and depository shares.
MicroStrategy’s latest moves reflect its continued commitment to strengthening its bitcoin holdings while utilizing different financial instruments to raise capital for further acquisitions.
