MicroStrategy has announced its plans to raise more capital to purchase more Bitcoin over the next three years and boost its Bitcoin strategy. This comes as the company’s co-founder Michael Saylor agreed with Donald Trump’s statement that Bitcoin is money and shouldn’t be subject to capital gains tax.
MicroStrategy To Raise $42 Billion To Buy More Bitcoin
The software company announced following its earnings call the strategic goal of raising $42 billion of capital over the next three years to buy more Bitcoin. These funds will comprise $21 billion of equity and $21 billion of fixed-income securities.
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MicroStrategy referred to itself as a ‘Bitcoin Treasury Company’ while revealing that some of this capital will be used to buy more BTC as a treasury reserve asset in a manner that will allow it to achieve higher Bitcoin yield.
This plan is undoubtedly a huge boost for the Bitcoin price considering that the amount of buying pressure the flagship crypto could enjoy from these BTC purchases by the software company.
