Michael Saylor’s Strategy Gears Up for a $711M Bitcoin Buying Spree!

The post Michael Saylor’s Strategy Gears Up for a $711M Bitcoin Buying Spree! appeared first on Coinpedia Fintech News

Strategy (NASDAQ: MSTR/STRK), formerly MicroStrategy, has announced the pricing of its offering of 8.5 million shares of 10 percent Series A Perpetual Strife Preferred Stock at $85 per share. According to the announcement, Strategy intends to conduct the public offering in the coming days and close on Tuesday, March 25, 2025.

As a result, Strategy estimates to raise a total of about $711.2 million from the public offering, which will be directed to the acquisition of Bitcoin and enriching the company’s working capital. Notably, the perpetual strife preferred stock will accumulate a fixed dividend of 10 percent per year.

Previously, the company intended to raise a total of $500 million through selling 5 million shares of Series A Perpetual Strife Preferred Stock.

Strategy Grows Bitcoin Trove

As Coinpedia reported, Strategy has relentlessly accumulated more Bitcoins in the past few months to nearly half a million. Earlier this week, the company acquired 130 Bitcoins for $10.7 million at an average price of around $82,982, thus currently holding about 499,226 Bitcoins, which represents 2.37 percent of the total BTC supply .

The company’s founder and chairman, Michael Saylor, has remained focused on accumulating as many Bitcoins as possible through leveraging global capital markets.

Consequently, more companies have followed in the footsteps of Strategy to strengthen their respective treasuries and hedge against high inflation. As of this report, 170 entities held around 3.1 million Bitcoins in their treasuries, including governments, private companies, and fund managers.