Michael Saylor’s Strategy To Raise Another $2 Billion To Buy More Bitcoin
Business intelligence firm and leading corporate Bitcoin holder Strategy is looking to raise an additional $2 billion through 0% senior convertible notes to purchase even more BTC.
According to a Feb. 18 statement by the company, previously known as MicroStrategy, the first note purchasers will have the option to buy up to an extra $300 million more worth of notes.
These notes can then be used within five business days after they are issued. Strategy said that part of the capital will be used to increase its exposure to Bitcoin, while the remaining funds will be used as working capital.
Strategy Completes Over Half Of Its 21/21 Goal
Senior convertible notes have been one of the main instruments Strategy has utilized to buy up more Bitcoin as part of its ambitious 21/21 Plan. Orchestrated by Strategy executive chair and Bitcoin maxi Michael Saylor, the 21/21 Plan aims to raise $42 billion in capital over 3 years, split between equity and fixed-income securities, to buy more BTC.
Data from SaylorTracker shows that Strategy’s BTC holdings currently stand at 478,740 BTC, valued at approximately $45.68 billion at current prices. Since starting its Bitcoin accumulation in 2022, the company is sitting on an unrealized 46% gain of more than $14.5 billion.
As of Feb. 19, the company has already completed over half of its 21/21 Plan since announcing the initiative on Oct. 30, 2024.
MSTR Price Barely Reacts To Strategy Announcement
Google Finance data shows that MSTR dropped a little more 1% yesterday, but it pared losses in after hours trading.
With Strategy’s plan to buy more Bitcoin, investors might want to take a look at a new project called BTC Bull Token (BTCBULL) , the first Bitcoin-themed meme coin.
On a mission to help Bitcoin climb to $1 million and beyond, the project rewards token holders with free Bitcoin and token burns when the leading crypto hits certain price milestones.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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