Hold onto your hats, folks! The world’s largest corporate Bitcoin hoarder, Strategy (formerly known as MicroStrategy), has decided that merely holding onto hundreds of thousands of Bitcoin isn’t enough. Oh no! They’re announcing a new stock offering worth a staggering $979.7 million to snag even more of the precious crypto. Yes, you read that correctly. It’s like buying a second mansion when you already own a castle.
In their latest announcement (and you can almost hear the *cha-ching* sound in the background), Strategy is offering 11.764 million shares of its 10% Series A Perpetual Stride Preferred Stock (try saying that five times fast!) at a price of $85 per share. Now, I don’t know about you, but it sounds like they’re preparing to make their shareholders feel like VIPs—at least until they realize what they’re really funding. Bitcoin, anyone?
And what’s the grand plan for this mountain of cash? According to Strategy (with a straight face, mind you), they’ll use this newfound wealth for “miscellaneous corporate expenses” and, of course, to buy more Bitcoin. Just in case you didn’t think the first 580,955 Bitcoin were enough, this is all about boosting that stash of the “crypto king.” Forget about diversifying investments, this is pure BTC obsession. 🤑
Now, let’s talk about preferred stocks for a second. These magical creatures promise investors higher, more consistent returns. Stability. How lovely. It’s like saying, “Here’s a slice of cake, but don’t worry, it won’t get too sweet for you.” Strategy’s offering is like a golden ticket to the stable yet slightly too extravagant life of preferred shareholders. Fancy, right? But let’s not forget the one thing it doesn’t do: weaken their voting rights. If there’s one thing Strategy is clear about, it’s that they want ALL the say in this Bitcoin empire.
Let’s take a moment to remember who’s behind this little empire: none other than the former chief executive and die-hard BTC maximalist, Michael Saylor. At present, Strategy holds a cool 580,955 Bitcoin, worth over $60.5 billion. You could say they’re the Warren Buffett of the crypto world… if Warren Buffett was obsessed with Bitcoin and wasn’t diversifying into *anything* else. 😏
To make this even juicier, Strategy now wants to double its Bitcoin purchase fund from $42 billion to a whopping $84 billion. Oh, how very modest. What’s the point of stopping now when the price of Bitcoin is climbing like an over-caffeinated squirrel? Currently, Bitcoin is trading at $104,540—a modest 2.1% rise in just 24 hours. Who doesn’t love a good crypto rally, right?
So there you have it, ladies and gentlemen. If you were wondering whether or not Bitcoin is here to stay, just look at Michael Saylor and his “Strategy” to make that pile of Bitcoin just a little bit bigger. Will it work? Will they succeed in making the crypto king even more untouchable? Or is it all just one big game of “how many Bitcoin can I stack before I need another mortgage?” Only time will tell. 😜
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2025-06-07 09:41