BREAKING: Strategy to Raise $21 Billion to Buy Bitcoin

Strategy (previously MicroStrategy) has unveiled a new initiative to raise up to $21 billion by issuing shares, with the goal of expanding its Bitcoin holdings.

The company has entered into a sales agreement allowing it to issue and sell the preferred stock in a disciplined manner over an extended period. The news was also shared on Michael Saylor’s X profile.

The preferred stock, which is convertible into Strategy’s Class A common stock, will be sold through the company’s “At the Market” (ATM) Program. This method allows the company to sell shares based on prevailing market conditions, including the trading price and volumes at the time of sale.

The funds raised through this offering will be used for general corporate purposes, with a significant portion dedicated to acquiring additional Bitcoin. The move reflects Strategy’s ongoing commitment to cryptocurrency, particularly Bitcoin, as part of its broader corporate strategy.

The perpetual strike preferred stock will be sold in accordance with Rule 415(a)(4) under the Securities Act of 1933, and the sale is being conducted under an automatic shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC). The offering will be made in a manner consistent with applicable securities laws.

It is important to note that this press release does not constitute an offer to sell or a solicitation to buy the preferred stock, and the sale is subject to the legal requirements of individual jurisdictions.