<\/p>\n
Software development firm MicroStrategy (MSTR) is announcing a massive new stock offering to raise funds for accumulating more Bitcoin (BTC<\/a>).<\/p>\n In a new press release, the business intelligence company says<\/a> it is setting the price of its perpetual strike preferred stock offering at $80 per share with the hopes of obtaining $563.4 million, some of which would go towards acquiring more of the top crypto asset by market cap.<\/p>\n Other ways the funds would be used include for working capital as well as general corporate expenses.<\/p>\n A preferred stock offering is a way for a firm to raise capital without diluting its voting rights. They generally offer investors higher and more consistent yields as well as more stability.<\/p>\n Says MicroStrategy,<\/p>\n \u201cThe perpetual strike preferred stock will have a liquidation preference of $100 per share and will accumulate cumulative dividends at a fixed rate of 8.00% per annum\u2026 Holders of the perpetual strike preferred stock will have the right to convert their shares of perpetual strike preferred stock on any business day (subject to certain limitations) into shares of MicroStrategy\u2019s class A common stock.\u201d<\/em><\/p>\n Earlier this month the shareholders of MicroStrategy \u2013 which was founded by Bitcoin maximalist and former chief executive Michael Saylor \u2013 voted<\/a> to increase the number of shares in a bid to raise money to purchase more of the crypto king.<\/p>\n At the time, it was reported that the proposal was to increase the number of common shares from 330 million to 10.3 billion and preferred shares from 5 million to 1 billion. The proposal passed with about 56% approval.<\/p>\n According to data from BTC blockchain tracker Bitcoin Treasuries, MicroStrategy at time of writing has<\/a> a stash of 471,107 BTC worth just over $48 billion.<\/p>\n The flagship digital asset is trading for $102,002 at time of writing, a 3.2% decrease during the last 24 hours while MSTR is valued at $334 at time of writing, a 1.6% decrease on the day.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Software development firm MicroStrategy (MSTR) is announcing a massive new stock offering to raise funds for accumulating more Bitcoin (BTC). In a new press release, the business intelligence company says it is setting the price of its perpetual strike preferred stock offering at $80 per share with the hopes of obtaining $563.4 million, some of […]<\/p>\n","protected":false},"author":2,"featured_media":364593,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-364591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/364591","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=364591"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/364591\/revisions"}],"predecessor-version":[{"id":364595,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/364591\/revisions\/364595"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/364593"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=364591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=364591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=364591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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