MicroStrategy (MSTR), the largest corporate holder of Bitcoin in the world, witnessed its shares rise by 13.22% on January 4 after revealing plans to raise $2 billion in capital.
The perpetual preferred stock offering underscores the company’s unyielding commitment to expanding its Bitcoin reserves.
It is a strategy that continues to attract market attention and drive its valuation higher.
$2 Billion to Back Bitcoin Ambitions
The newly announced offering is part of the company’s elaborate ‘21/21’ strategic plan that is designed into two phases.
This big and challenging goal is to mobilize $42 billion within three years: $21 billion of equity and $21 billion of fixed-income instruments.
The funds will be channelled to the company’s balance sheet and deepen its Bitcoin bet.
As of January 4, MicroStrategy holds 446,400 BTC, valued at approximately $43.9 billion, according to Bitcoin Treasuries. The company’s average purchase price of $62,500 per Bitcoin positions
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