Enterprise software company MicroStrategy announces a $2 billion fundraising plan to buy more Bitcoin (BTC).
At a new company press releaseMicroStrategy says it aims to acquire more of the top crypto assets by market cap by 2025 to strengthen its position in the market.
However, the company says the planned capital increase, scheduled for the first three months of the year, may or may not go ahead depending on market conditions.
“The purpose of the offering is to enable MicroStrategy to continue to strengthen its balance sheet and acquire more Bitcoin. The offering is expected to take place, if at all, in the first quarter of 2025.
However, the decision to proceed with and complete the Offering is at the sole discretion of MicroStrategy and subject to market and other conditions. MicroStrategy may choose not to proceed with the offering or to complete the offering altogether.”
It was recently reported that MicroStrategy, exchange-traded funds (ETFs), and governments own nearly 31% of all BTC.
In late December, MicroStrategy added 2,138 BTC worth about $209 million at the time to its hoard of tokens.
MicroStrategy is the largest corporate owner of BTC, owning 446,400 Bitcoin worth $43.796 billion.
Bitcoin is trading at $98,553 at the time of writing, down fractionally over the past 24 hours.
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Featured image: Shutterstock/U2M Brand/Panuwatccn
