MicroStrategy is set to raise up to $2 billion to expand its Bitcoin holdings. The company currently possesses 226,500 BTC, valued at over $13.88 billion.
This planned acquisition has generated anticipation within the crypto community, which believes it could trigger a market rally.
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MicroStrategyâs $2 Billion Bitcoin Acquisition Plans
Earlier this month, MicroStrategy announced plans to potentially invest up to $2 billion into its substantial Bitcoin holdings. In its Q2 financial results, the company disclosed that it had acquired 12,222 BTC during the quarter for $805.2 million, bringing its total Bitcoin holdings to 226,500 tokens.
Under the leadership of Michael Saylor, MicroStrategy has become the largest public holder of Bitcoin, with these holdings valued at over $13.88 billion based on the current Bitcoin price of $61,155.
Source:Â X
On August 1, MicroStrategy filed with the U.S. SEC to raise up to $2 billion through an at-the-market (ATM) equity offering program. The funds are intended for general corporate purposes, including the potential purchase of additional Bitcoin.
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Following the announcement, Bitcoinâs price initially rose from $62,248 to $65,593. However, it later dropped to $49,000 but has since recovered to around $61,000. The crypto community is keenly awaiting the anticipated purchase, with intelligence platform Arkham even creating a dedicated portal to track MicroStrategyâs BTC acquisitions.
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