Michael Saylor’s Strategy to raise up to $21B to purchase more Bitcoin
Currently holding around 499,000 BTC, Michael Saylor’s Strategy plans to keep stacking Bitcoin with its new “ATM Program.”
Michael Saylor’s Strategy, the world’s largest public corporate Bitcoin holder, is looking to raise up to $21 billion in fresh capital to purchase more BTC.
On March 10, Strategy announced that it had entered into a new sales agreement that would allow the firm to issue and sell shares of its 8% Series A perpetual strike preferred stock to raise funds for general corporate purposes, including potential Bitcoin (BTC) acquisitions.
As part of the agreement deal, dubbed the “ATM Program,” Strategy expects to make sales “in a disciplined manner over an extended period,” taking into account the trading price and volumes of the perpetual strike preferred stock at the time of sale.
