Well, hold onto your hats, folks! MicroStrategy has just announced the pricing of its perpetual strike preferred stock offering, and it’s coming in hot at a public listing price of $80 per share. Mark your calendars for February 5, because that’s when the corporate securities will make their grand debut. 🎉
Now, if you’re wondering what they plan to do with the anticipated $563.4 million in revenue from this stock offering, you might want to sit down. They’re planning to acquire more Bitcoin (BTC) and cover their operating expenses. Because, you know, why not throw a little more digital gold into the mix? 💰
MicroStrategy is really leaning into its “21/21” plan, which sounds like a bizarre bingo game but is actually about issuing $21 billion in equity and $21 billion in fixed-income securities to finance their Bitcoin acquisitions. At this point, they’ve practically become the poster child for BTC-holding firms. If there were a Bitcoin Hall of Fame, they’d be the first inductee. 🏆
MicroStrategy strengthens balance sheet
In a move that can only be described as “bold,” on January 27, MicroStrategy chairman Michael Saylor announced that the company had purchased an additional 10,107 BTC for a cool $1.1 billion. You know, just a casual Tuesday for them.
According to the ever-reliable SaylorTracker, the company now holds a staggering 471,107 BTC, valued at approximately $49.4 billion. That’s right, folks, with unrealized gains of over $19 billion. If only we could all be so lucky! 😅
But wait, there’s more! On January 24, MicroStrategy also announced a debt buyback, issuing a redemption notice for its 2027 convertible senior note tranche, valued at $1.05 billion. Holders of these notes have until February 24 to redeem their shares at 100% of the principal price or convert them to MicroStrategy stock. Talk about a ticking clock! ⏰
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MicroStrategy argues that this minimum alternative tax, combined with a change in accounting methods, would essentially tax crypto firms on unrealized gains from their digital asset holdings. They’re asking the IRS to change the wording of the rule to exclude unrealized gains and losses on investments priced at fair value for bookkeeping purposes. Because, let’s face it, who wants to pay taxes on imaginary money? 😜
If the IRS doesn’t budge, MicroStrategy warns it could face billions in taxes on its BTC holdings, despite never having sold a single coin. Now that’s a plot twist worthy of a Hollywood blockbuster!
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2025-01-31 18:43