Michael Saylor Signals New Bitcoin Buy as Strategy Launches $1B Stock Offering

Technique co-founder and government chairman Michael Saylor posted a chart of the corporate’s Bitcoin holdings on June 8, signaling a potential upcoming acquisition.

On June 8, Saylor posted “Ship extra Orange” on X. Saylor’s cryptic posts are sometimes adopted by bulletins of recent Bitcoin (BTC) purchases. If Technique follows up the publish with one other BTC purchase, it can mark the ninth week of consecutive Bitcoin purchases from the corporate. 

The publish comes shortly after the corporate bought an extra 705 BTC between May 26 and June 1 for around $75 million at a mean worth of $106,495 per coin, bringing the corporate’s complete Bitcoin holdings to 580,955 BTC, presently valued at roughly $61.4 billion.

Information from SaylorTracker reveals that the corporate is up roughly 50% on its funding, amounting to round $20.6 billion in unrealized revenue. 

Technique provides $1 billion in shares to purchase extra Bitcoin

Saylor’s X publish follows Technique’s announcement of a $1 billion stock offering, quadrupling its beforehand introduced $250 million elevate. The corporate mentioned it can use the proceeds to fund extra Bitcoin purchases and common company bills.

The providing includes 11.76 million shares of its 10.00% Collection A Perpetual Stride Most well-liked Inventory priced at $85 per share. Technique expects to lift about $979 million after bills from underwriting and different dues are deducted. 

In contrast to its previous funding strategies, the popular inventory provides non-cumulative dividends of 10%. This appeals to institutional {and professional} traders who’re after yield. It goals to supply extra predictable investor returns whereas the corporate continues to pursue its aggressive Bitcoin accumulation technique.