Michael Saylor, co-founder of Strategy, considered new bitcoin purchases amid capital raising through preferred stock offering.
New Opportunity for BTC Purchase
Michael Saylor posted a Bitcoin chart on social media hinting at a new acquisition after traditional financial markets open. Strategy's recent purchase included 130 BTC, valued at $10.7 million, increasing the company's total holdings to 499,226 BTC.
Stock Offering and Its Impact
On March 21, Strategy announced the pricing of its latest tranche of preferred stock, sold at $85 each with a 10% coupon. The offering is expected to bring approximately $711 million in revenue to the company.
Vision for Bitcoin's Future
Michael Saylor actively supports the use of Bitcoin as a treasury asset and proposed that the US government acquire 25% of Bitcoin's total supply by 2035. At a recent summit, he stated, 'Bitcoin is the only commodity that has never been a garbage investment.'
Despite recent market fluctuations, Strategy's investment in bitcoin has brought significant gains, and the company continues to adhere to its strategy of increasing assets in BTC.
