MicroStrategy has made another significant investment in Bitcoin, acquiring 10,107 additional BTC at a cost of $1.1 billion. This acquisition brings the company's total Bitcoin holdings to 471,107 BTC, which accounts for about 2% of Bitcoin's total supply.
As part of its ongoing strategy to accumulate Bitcoin, MicroStrategy is planning a capital raise by selling $250 million in perpetual preferred stock with an 8% fixed coupon. This move aims to fund further Bitcoin purchases in the future. Moreover, shareholders have approved an increase in authorized shares from 330 million to 10.3 billion to support the company's growth ambitions.