Michael Saylor, the co-founder and executive chairman of MicroStrategy, recently posted a chart highlighting the company’s Bitcoin holdings, hinting at potential new acquisitions. On June 8, he encouraged followers with the phrase 'Send more Orange' on social media. This hints that the company may continue its pattern of acquiring Bitcoin, potentially marking the ninth consecutive week of purchases. Just before this post, MicroStrategy bought an additional 705 BTC for approximately $75 million, which brought its total holdings to 580,955 BTC, now valued at about $61.4 billion. According to data from SaylorTracker, MicroStrategy currently stands at a 50% profit on this investment, reflecting a gain of around $20.6 billion in unrealized profit.
Saylor's post follows an announcement from MicroStrategy regarding a $1 billion stock offering, which significantly exceeds its earlier target of $250 million. The company aims to use the proceeds from this offering, involving 11.76 million shares priced at $85 each, for more Bitcoin purchases as well as general corporate expenses. Notably, this preferred stock carries a 10% non-cumulative dividend, making it attractive to institutional investors seeking steady returns while MicroStrategy expands its Bitcoin holdings.
Currently, MicroStrategy holds more Bitcoin than any other entity, surpassing even the reserves of the United States and China combined. With its holdings nearly 12 times larger than those of the next biggest holder, Bitcoin miner Mara Holdings, the company has grown synonymous with Bitcoin investment, appealing to investors looking for indirect exposure to cryptocurrencies.
Saylor's post follows an announcement from MicroStrategy regarding a $1 billion stock offering, which significantly exceeds its earlier target of $250 million. The company aims to use the proceeds from this offering, involving 11.76 million shares priced at $85 each, for more Bitcoin purchases as well as general corporate expenses. Notably, this preferred stock carries a 10% non-cumulative dividend, making it attractive to institutional investors seeking steady returns while MicroStrategy expands its Bitcoin holdings.
Currently, MicroStrategy holds more Bitcoin than any other entity, surpassing even the reserves of the United States and China combined. With its holdings nearly 12 times larger than those of the next biggest holder, Bitcoin miner Mara Holdings, the company has grown synonymous with Bitcoin investment, appealing to investors looking for indirect exposure to cryptocurrencies.
