The company has announced a new capital-raising initiative aimed at increasing its Bitcoin reserves to over 600,000 units.
Company's Capital-Raising Plans
The company announced its intent to offer shares of its 10% Series A Perpetual Preferred Stock through an at-the-market program. This initiative could potentially raise up to $4.2 billion to facilitate further Bitcoin accumulation.
Financial Aspects of the New Offering
The proceeds are intended for various purposes, including corporate operations, working capital, and, importantly, additional Bitcoin acquisitions. A portion of the funds may also support dividend payments to current holders of the company’s preferred stock.
Current Situation of Bitcoin Reserves
The company paused its weekly BTC purchases after 12 consecutive weeks but has already reported $14 billion in unrealized gains on its Bitcoin investments. Currently, the company owns 597,325 BTC acquired at a total cost of $42.4 billion.
The new capital-raising initiative provides the company with opportunities to increase its Bitcoin reserves and strengthen its market position.
