MicroStrategy Buys 1,070 BTC, Plans to Raise Up to $2B Through Preferred Stock Offering

Disclaimer: The expert who wrote this portion owns shares of MicroStrategy (MSTR). MicroStrategy (MSTR) has accrued its bitcoin (BTC) holdings for the ninth consecutive week. MicroStrategy holds much bitcoin than immoderate different publically traded company. In the week ending Jan. 5, MicroStrategy purchased a further 1,020 BTC for $101 million, bringing its full bitcoin holdings to 447,470 BTC. It wouldn't beryllium a Sunday without Executive Chairman Michael Saylor teasing the announcement successful a post connected X. The mean acquisition terms of the bitcoin was $94,004, which raised the mean terms to $62,503. The latest bitcoin acquisition was funded done stock income nether the company's at-the-market (ATM) program, for which they person $6.77 cardinal near connected the ATM program. The stock terms recovered connected Friday with a 13% summation aft an astir 50% driblet from the Nov. 21 precocious of $543, portion the banal is trading astir $353 — 2% higher — successful pre-market trading.

In addition, MicroStrategy announced it would beryllium raising up to $2 cardinal via a preferred banal offering. This $2 cardinal offering sits separately to the 21/21 program of $21 cardinal successful equity and $21 cardinal successful fixed income. Preferred banal takes precedence implicit Class A communal stock. In the filing, immoderate features see convertibility to Class A communal stock, outgo of currency dividends and provisions allowing for the redemption of shares. The perpetual preferred banal and terms offering presumption person yet to beryllium determined, portion the offering is expected to hap successful Q1 2025. The intent of the offering is for MicroStrategy to get much bitcoin.