Strategy Announces $21B Preferred ATM Offering to Buy More Bitcoin
A fresh round of purchases of bitcoin would bring the company's holdings above 500,000 tokens.
On the sidelines from purchasing additional bitcoin (BTC) for the past couple of weeks, Michael Saylor's Strategy (STRK) is at it again.
The company during early Monday U.S. hours announced a $21 billion at-the-market (ATM) offering of its Series A preferred stock (STRK), proceeds of which would mostly be used for buying additional bitcon.
The news gave a small boost to bitcoin, which — amid yet another panicky Sunday session — traded as low as $80,000 a few hours ago. It's currently changing hands at just above $83,000.
Strategy by a mile is the largest corporate holder of bitcoin, with just shy of 500,000 tokens worth about $42 billion at bitcoin's current price.
MSTR shares are lower by 5.5% in premarket action and down about 50% from a record high hit in late November.
