Michael Saylor-led Strategy announced a sales agreement for up to $21 billion of stock.
$21 Billion Stock Offering
Strategy announced an agreement to sell $21 billion of 8% Series A Perpetual Strike Preferred Stock. The shares, with a $0.001 par value, are convertible into class A common stock. Proceeds will be used for corporate purposes and Bitcoin acquisition. The offering will comply with SEC regulations.
Company Rebranding
Recently, the company rebranded by dropping 'Micro' from its name to emphasize its focus on Bitcoin and AI. This comes after a record-breaking fourth quarter of 2024, marking its largest Bitcoin holdings increase to 499,096 BTC, valued at around $39.87 billion.
Company's Financial Position
Despite the new offering announcement, Strategy's stock (MSTR) is trading around $252, down over 12% from the previous close. However, Bitcoin acquisition remains a core part of the company's long-term strategy.
Strategy continues to solidify its position as the largest corporate Bitcoin holder through strategic financial initiatives.
