Michael Saylor plans to raise $2 billion through stock offerings to buy more Bitcoin

From Investing.com

January 05, 2025 01:00:20 PM:

Michael Saylor, the executive chairman of MicroStrategy, is focused on Bitcoin as 2025 begins, with plans to raise $2 billion through public offerings of perpetual preferred stock to buy more Bitcoin. MicroStrategy currently holds 446,400 Bitcoin, valued at $43.9 billion, after purchasing 257,250 Bitcoin in 2024. The company’s goal is to continue expanding its Bitcoin holdings.

Bitcoin price action has been positive, with the cryptocurrency trading around $98,000 and showing a 4% weekly increase. Market indicators suggest possible short-term consolidation between $100,000 and $90,000, with potential retesting of the all-time high of $108,353 if price surpasses $100,000. Conversely, a drop below $90,000 could lead to support at $85,000.

Read more at Investing.com: Michael Saylor Speaks as BTC Maintains $98,000 Price By U.Today