Strategy Raises $2.5 Billion in Record Stock Sale to Buy More Bitcoin
The post Strategy Raises $2.5 Billion in Record Stock Sale to Buy More Bitcoin appeared on BitcoinEthereumNews.com. This deal marks another bold move by Executive Chairman Michael Saylor, who has turned his business intelligence company into the world’s largest corporate Bitcoin holder. Strategy now owns 628,791 Bitcoin worth over $66 billion at current prices. Strategy, the company formerly known as MicroStrategy, just completed the biggest stock offering in America this year. The software company raised $2.5 billion by selling preferred shares, then used all that money to buy more Bitcoin. The $2.5 billion offering started small but exploded in size due to investor demand. Originally planned at $500 million, the company increased it five times over. This made it twice as large as Circle’s planned $1 billion public offering earlier this year. From Software Company to Bitcoin Giant Strategy’s journey to becoming a Bitcoin powerhouse started in August 2020. That’s when Saylor announced the company would spend $250 million of its cash reserves on Bitcoin instead of keeping it in traditional investments. The decision came after Saylor grew worried about inflation and the U.S. government printing trillions of dollars during the COVID pandemic. He called cash a “melting ice cube” and viewed Bitcoin as “digital gold” that would hold its value better than dollars. This marked a dramatic change for Saylor personally. Back in 2013, he had tweeted that Bitcoin’s “days were numbered.” But by 2020, he admitted he had completely forgotten about that negative comment and changed his mind about the cryptocurrency. The company’s first Bitcoin purchase made headlines as the first major public company to put cryptocurrency on its balance sheet as a treasury asset. Other companies like Tesla and Square soon followed this approach. The Ambitious 21/21 Plan Strategy’s Bitcoin buying strategy got even bigger in October 2024 when the company announced its “21/21 Plan.” This ambitious three-year plan aims to raise $42 billion…
The post Strategy Raises $2.5 Billion in Record Stock Sale to Buy More Bitcoin appeared on BitcoinEthereumNews.com.
This deal marks another bold move by Executive Chairman Michael Saylor, who has turned his business intelligence company into the world’s largest corporate Bitcoin holder. Strategy now owns 628,791 Bitcoin worth over $66 billion at current prices. Strategy, the company formerly known as MicroStrategy, just completed the biggest stock offering in America this year. The software company raised $2.5 billion by selling preferred shares, then used all that money to buy more Bitcoin. The $2.5 billion offering started small but exploded in size due to investor demand. Originally planned at $500 million, the company increased it five times over. This made it twice as large as Circle’s planned $1 billion public offering earlier this year. From Software Company to Bitcoin Giant Strategy’s journey to becoming a Bitcoin powerhouse started in August 2020. That’s when Saylor announced the company would spend $250 million of its cash reserves on Bitcoin instead of keeping it in traditional investments. The decision came after Saylor grew worried about inflation and the U.S. government printing trillions of dollars during the COVID pandemic. He called cash a “melting ice cube” and viewed Bitcoin as “digital gold” that would hold its value better than dollars. This marked a dramatic change for Saylor personally. Back in 2013, he had tweeted that Bitcoin’s “days were numbered.” But by 2020, he admitted he had completely forgotten about that negative comment and changed his mind about the cryptocurrency. The company’s first Bitcoin purchase made headlines as the first major public company to put cryptocurrency on its balance sheet as a treasury asset. Other companies like Tesla and Square soon followed this approach. The Ambitious 21/21 Plan Strategy’s Bitcoin buying strategy got even bigger in October 2024 when the company announced its “21/21 Plan.” This ambitious three-year plan aims to raise $42 billion…
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