Michael Saylor Signals New Bitcoin Buy as Strategy Launches $1B Stock Offering
Michael Saylor, co-founder and executive chairman of Strategy, indicated a potential Bitcoin acquisition by posting a chart of the company's holdings and the phrase “Send more Orange” on June 8. This follows a recent purchase of 705 BTC for approximately $75 million, raising total holdings to 580,955 BTC, valued at around $61.4 billion. The company has seen a 50% increase in its investment, resulting in about $20.6 billion in unrealized profit. Strategy announced a $1 billion stock offering to fund further Bitcoin purchases, involving 11.76 million shares of preferred stock priced at $85 each, expected to raise about $979 million after expenses. This offering aims to attract institutional investors with non-cumulative dividends of 10%. Strategy remains the largest known Bitcoin holder, surpassing the combined holdings of the U.S. and China and significantly outpacing the second-largest holder, Mara Holdings.
