Disclaimer: The analyst who wrote this article owns shares of MicroStrategy (MSTR).
MicroStrategy (MSTR) has increased its bitcoin (BTC) holdings for the ninth consecutive week.
MicroStrategy owns more bitcoins than any other publicly traded company. In the week ending January 5, MicroStrategy purchased another 1,020 BTC for $101 million, bringing its total bitcoin holdings to 447,470 BTC.
It wouldn’t be a Sunday without CEO Michael Saylor mocking the announcement in a post on
The stock price rebounded on Friday with a 13% gain after a nearly 50% drop from the Nov. 21 high of $543, while the stock is trading around $353 (up 2%). in pre-marketing operations.
Additionally, MicroStrategy announced it would raise up to $2 billion through a preferred stock offering. This $2 billion offering is separate from the 21/21 plan of $21 billion in equities and $21 billion in fixed income.
Preferred stock has priority over Class A common stock. On presentation, some features include convertibility to Class A common stock, payment of cash dividends, and provisions allowing for redemption of shares. The perpetual preferred shares and pricing terms of the offering have yet to be determined, while the offering is expected to take place in the first quarter of 2025. The purpose of the offering is for MicroStrategy to acquire more bitcoins.
