MicroStrategy, a major holder of Bitcoin, is planning to buy even more Bitcoin after a successful stock sale.
A Big Stock Sale, Bigger Bitcoin Buys?
The company recently sold $722.5 million worth of preferred stock. They’re planning to use this money, along with some extra cash, to boost their Bitcoin holdings. This follows a previous $2 billion fundraising round earlier this year.
MicroStrategy currently owns a massive amount of Bitcoin – around 499,226 BTC, worth roughly $41.9 billion at current prices. This new funding will only add to that impressive stash.
What is Preferred Stock?
This preferred stock deal gives investors a fixed dividend (like a bond) but also a small stake in the company. The company is offering a 10% annual dividend on the stock.
Bitcoin’s Current Price
Bitcoin is currently trading around $83,947. This is a slight increase over the past day.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in anything, especially high-risk assets like Bitcoin.
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