Micheal Saylor Hints At MicroStrategy Bitcoin Purchase
06 Jan, 2025 ● Crypto people
MicroStrategy co-founder Michael Saylor shared a Bitcoin chart from the SaylorTracker website on Jan. 5, a chart he typically posts on Sundays before announcing Bitcoin purchases the following day.
“Something about SaylorTracker.com is not quite right,” Saylor wrote on X, hinting at another potential Bitcoin acquisition on Monday.
The previous week, on Sunday, Dec. 29, Saylor posted the same chart, and MicroStrategy subsequently purchased 2,138 BTC on Dec. 30 at an average price of $97,837 per coin.
The company is continuing its buying spree as part of its 21/21 plan, which involves raising $42 billion for Bitcoin acquisitions by issuing $21 billion in equity and $21 billion in fixed-income securities.
On Dec. 23, 2024, MicroStrategy joined the Nasdaq 100, a stock market index that includes the 100 largest companies on the Nasdaq exchange by market capitalization.
This inclusion provides traditional stock investors holding the index via exchange-traded funds with indirect exposure to Bitcoin.
Following its addition to the Nasdaq 100, MicroStrategy convened a special shareholders meeting to approve measures aimed at financing its Bitcoin purchasing strategy.
According to a Dec. 23 SEC filing, the company proposed increasing its authorized class A common stock from 330 million shares to 10.3 billion shares and its authorized preferred stock from 5 million shares to over 1 billion shares.
On Jan. 4, MicroStrategy announced plans to raise $2 billion through a perpetual preferred stock offering.
This offering would prioritize preferred stockholders over class A common stockholders in cases of bankruptcy or liquidation.
The proposed $2 billion raise is separate from the company’s 21/21 plan and is expected to take place in Q1 2024, subject to company approval.
Sources:
https://cointelegraph.com/news/micro-strategy-saylor-post-btc-tracker-hint-monday-purchase
