MicroStrategy’s Bold Move: Selling Billions for Bitcoin? You Won’t Believe This!

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Ah, dear reader, gather ’round as we delve into the latest escapade of the illustrious MicroStrategy, now whimsically rebranded as Strategy. This audacious entity has decided to embark on a grand venture, selling a staggering $2.1 billion worth of preferred stock. And what, pray tell, shall they do with such a princely sum? Why, indulge in the delightful acquisition of more Bitcoin, of course! 💰

These splendid shares belong to Strategy’s 10.00% Series A Perpetual Stock, a title that rolls off the tongue like a fine wine. They are gracing the Nasdaq with the charming ticker symbol “STRF.” Each share, dear friends, boasts a liquidation preference of $100 and, should the stars align, pays a cumulative annual dividend of 10%. As of May 21, the stock was frolicking at $100.65, a price that surely tickles the fancy of investors. The new shares will mirror the terms of the 8.5 million already in circulation, because why not keep things delightfully consistent?

Strategy Announces $2.1 Billion $STRF At-The-Market Program

— Michael Saylor (@saylor) May 22, 2025

Now, let us not overlook the timing of this grand offering, which coincides with Bitcoin reaching dizzying heights. Earlier today, the price flirted with $111,861 before settling down to a more modest $111,000. Strategy, in its infinite wisdom, currently holds a veritable treasure trove of 576,230 BTC, amassed since August 2020 at an average cost of $69,726 per Bitcoin. At current valuations, their holdings are worth just shy of $64 billion—an impressive 59% above the original cost. Talk about a financial fairy tale! 🧚‍♂️

Bitcoin, that whimsical digital currency, now constitutes over half of Strategy’s $111.4 billion market cap, firmly ensconced at the heart of its financial strategy. According to the company’s own proclamations, the proceeds from this offering shall be directed toward general corporate purposes and, naturally, more Bitcoin acquisitions—because who wouldn’t want to dive deeper into the crypto rabbit hole? 🐇

As with previous offerings, there exists no fixed amount that must be sold, and the agents are under no obligation to meet any minimum sales goal. They shall receive a fee of up to 2% of gross proceeds, a rather charming arrangement, wouldn’t you agree? The structure of this offering grants Strategy the delightful flexibility to issue shares over time, depending on the whims of the market. However, let us not forget that dividend payments are subject to the availability of funds and the whims of the board—because what’s a little uncertainty in the world of finance? 😏

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2025-05-22 15:32