🚀💰 MicroStrategy About to Shake the Crypto World with $2 Billion! 💰🚀
MicroStrategy is looking to raise $2 billion by selling its Class A shares to buy even more Bitcoin and pay off its debts. 🌟 The world's largest public Bitcoin holder shows no signs of slowing down as Bitcoin continues its rise.
In an August 1 regulatory filing with the SEC, the Virginia-based company announced plans to raise billions to bolster its crypto strategy. The filing mentions that the funds will be used for “general corporate purposes, including the acquisition of Bitcoin.”
The company also revealed its second quarter financial results, reporting the acquisition of 12,222 BTC during this period, for a total of 226,500 BTC, acquired at a cumulative cost of $8.3 billion as of July 31. Additionally, MicroStrategy introduced a new performance indicator (KPI), “BTC Yield,” targeting annual returns of 4-8% over the next three years.
🔥 Despite these ambitious plans, the company reported disappointing results in its software sector, with revenue of $111.4 million, below analysts' expectations of $119.3 million, according to Bloomberg . Shares of MicroStrategy (MSTR) plunged more than 6.3% to $1,511 following the financial report, according to Google Finance.
By 2023, MicroStrategy had already sold $750 million worth of stock to buy more Bitcoin, confirming its multi-million dollar acquisitions of the cryptocurrency and reinforcing its commitment to its Bitcoin-centric strategy. 🚀
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