$IO
📺 MICROSTRATEGY BOOSTS STOCK SALE TO $700M TO BUY MORE BITCOIN:
📢MicroStrategy boosted its planned stock sale to $700 million from $500 million to raise additional funds for purchasing Bitcoin amid strong investor demand.
🔥MicroStrategy, led by CEO Michael Saylor, has increased the size of its planned stock sale to raise additional funds to purchase Bitcoin. The company is now seeking to raise $700 million, up from the previously announced $500 million.
🔥MicroStrategy first announced plans on Thursday to raise $500 million by selling convertible senior notes to qualified institutional buyers. The proceeds would primarily go toward acquiring more Bitcoin for its corporate treasury, which already contains over 214,400 BTC worth $15 billion.
🔥The software analytics firm then boosted the offering to $700 million on Friday. The company said the offering is expected to close on June 17th.
🔥MicroStrategy has aggressively accumulated bitcoin since 2020 under Saylor's direction. It utilizes debt to fund its Bitcoin buying, taking advantage of market volatility. The company cited its confidence that Bitcoin will continue appreciating over the long term.
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