Michael Saylor's 'Strategy' To Raise Up To $21B To Buy More Bitcoin
Michael Saylor's 'Strategy' To Raise Up To $21B To Buy More Bitcoin
https://cointelegraph.com/news/michael-saylor-strategy-raise-21-billion-purchase-bitcoin
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.
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On March 10, Strategy officially https://www.strategy.com/press/strategy-announces-21-billio
) 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.
“Strategy intends to use the net proceeds from the ATM Program for general corporate purposes, including the acquisition of Bitcoin and for working capital,” the firm said in the filing with the Securities and Exchange Commission (SEC).
The announcement comes amid https://cointelegraph.com/news/strategy-bitcoin-stash-up-7-billion-500k-btc-holdings
($41.2 billion), which it acquired for an aggregate amount of $33.1 billion at an average price of $66,423 per BTC.
The company previously disclosed plans to issue and sell shares of its class A common stock tohttps://cointelegraph.com/news/microstrategy-42b-capital-bitcoin-purchase-michael-saylor
and $21 billion in fixed-income securities over the next three years in order to accumulate more Bitcoin under its “21/21 plan.”
Despite suffering its lhttps://cointelegraph.com/news/biggest-red-weekly-candle-ever-5-things-bitcoin-this-week
, Strategy remained ahead on its BTC purchases.
In total, Strategy has spent $33.1 billion on Bitcoin purchases, while its holdings are now valued at $41.2 billion - a 24% unrealized gain even amid the correction.
Strategy founder Michael Saylor has proposed that the United States government acquire up to 25% of Bitcoin’s total supply over the next decade for its Strategic Bitcoin Reserve.
“Acquire 5-25% of the Bitcoin network in trust for the nation through consistent, programmatic daily purchases between 2025 and 2035, when 99% of all BTC will have been issued,” Saylor https://www.michael.com/a-digital-assets-strategy
in a document titled “A Digital Assets Strategy to Dominate the 21st Century Global Economy.”
Saylor reiterates to the US government, “Never sell your Bitcoin”
Saylor presented the document to US President Donald Trump, government executives, and global crypto leaders at the https://cointelegraph.com/news/bitcoin-investors-mixed-reactions-white-house-crypto-summit
.
He explained that the government should stick to a “Never sell your Bitcoin” policy, predicting that by 2045, the Strategic Bitcoin Reserve could generate over $10 trillion annually and serve as a “perpetual source of prosperity” for Americans.
Up until 2045, Saylor said the Reserve could generate between $16 trillion and $81 trillion for the US Treasury, potentially easing the national debt.
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Source: https://x.com/saylor/status/1898136271131758895
Earlier that day, Trump https://cointelegraph.com/news/donald-trump-signs-executive-order-strategic-bitcoin-reserve
a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile,” initially funded with cryptocurrency seized in criminal cases.
While it didn’t include an immediate plan to buy more Bitcoin, the order stated that the Treasury and Commerce secretaries would develop “budget-neutral strategies” for acquiring more Bitcoin, ensuring no added costs for taxpayers.
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Mon, 03/10/2025 - 09:01
https://www.zerohedge.com/crypto/michael-saylors-strategy-raise-21b-buy-more-bitcoin
