Bitcoin Mania 🤪

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Ah, Strategy, formerly known as MicroStrategy, those fellows who have quite taken a fancy to Bitcoin, have managed to conjure up a whopping $711.2 million through what they call a “preferred stock offering.” Imagine that, a veritable mountain of moolah, all destined for the glorious acquisition of more of that digital gold! 💰💰💰

They’ve managed to sell 8.5 million shares of their “10.00% Series A Perpetual Strife Preferred Stock” for a cool $85 each. Seems the investors are desperate for a piece of this Bitcoin pie, even if it means enduring a 10% annual dividend, paid in quarterly installments, with a rather ominous catch: if Strategy misses a payment, the dividends start piling up like a stack of dusty books in a forgotten attic, growing at an alarming rate until they reach a staggering 18% per year! 😱

Now, this whole affair was initially intended to rake in a mere $500 million, but the demand soared like a rocket ship launched into the stratosphere, forcing Strategy to upsize their offering like a baker expanding their breadbasket.

Strategy assures us that this newfound treasure will be used for “general corporate purposes,” which, let’s be honest, means one thing and one thing only: more Bitcoin! They even boast about their “strategic accumulation” of the digital currency, proclaiming Bitcoin as the ultimate “digital capital.” 🙈

Meanwhile, they haven’t abandoned their AI-powered enterprise analytics tools, but let’s face it, who needs those when you have Bitcoin, right?

Just recently, Strategy revealed they’ve splashed out an additional $10.7 million on 130 more Bitcoins, courtesy of an earlier preferred stock sale. Talk about a whirlwind romance with the digital currency! 💖

So there you have it, folks. Strategy, the self-proclaimed Bitcoin evangelists, have once again proven their unwavering commitment to the digital gold rush. Will this venture end in triumphant riches or a spectacular crash? Only time will tell! 🍿🍿🍿

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2025-03-21 16:10