Strategy Plans Buying More Bitcoin
Strategy, formerly known as MicroStrategy, might be preparing to buy Bitcoin in a big way again. Strategy currently owns 478,740 Bitcoin, worth about over $45 billion.
The company’s co-founder, speculation surrounding this move grew following a subliminal hint posted on social media by Michael Saylor. Saylor posted a Bitcoin tracker on X (formerly Twitter) on February 23.
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His cryptic message implied that the tracker did not reflect recent Bitcoin transactions. The cryptocurrency community immediately conjectured that the company was getting ready for another acquisition because he had previously shared charts that looked similar before significant Bitcoin acquisitions.
Some people theorize that it may spend up to $2 billion on Bitcoin In light of Strategy’s recent decision to raise money through convertible bonds.
These bonds, which are unsecured senior obligations with no interest but that can be converted into company stock, are anticipated to mature in March 2030. The “21/21 Plan,” which aims to raise $42 billion for Bitcoin investments, includes this capital raise.
Through the sale of equity and fixed-income securities, the company hopes to raise $21 billion and $21 billion, respectively. Strategy, formerly a software-focused company, is now the biggest corporate Bitcoin owner.
Its stock now appears in the Nasdaq-100 after its pivot greatly increased investor interest. The company acquired 7,633 Bitcoin for $742.04 million on February 10, its most recent Bitcoin acquisition.
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