Strategy Moves to Raise $2B for More Bitcoin Purchases
Bitcoin saw a modest rebound Tuesday evening following the announcement that Strategy (MSTR)—formerly known as MicroStrategy—is set to expand its Bitcoin holdings through a fresh round of fundraising.
Key Details:
- Strategy plans to raise $2 billion via 0% convertible notes, with an option for an additional $300 million through an underwriter greenshoe.
- The majority of the funds will be allocated to purchasing more Bitcoin (BTC) as part of the company’s long-term strategy.
- Led by Executive Chairman Michael Saylor, Strategy remains the largest corporate holder of Bitcoin, currently owning 478,740 BTC, valued at over $45 billion.
- In response to the announcement, Bitcoin trimmed earlier losses, rising 1% to $95,000, though it remains down 1.2% in the past 24 hours.
This latest move underscores Strategy’s unwavering commitment to Bitcoin accumulation, further solidifying its dominance in corporate crypto investments.
