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  • Strategy plans to offer five million shares with new preferred stock to purchase additional Bitcoin

    Strategy plans to offer five million shares with new preferred stock to purchase additional Bitcoin

    Coinbase will delist Wrapped Bitcoin (WBTC) on December 19, 2024

    • The shares will accumulate cumulative dividends at a fixed rate of 10% each year
    • Strategy said that dividend payments will begin paying out on June 30, 2025
    • To date, Strategy holds under 500k Bitcoin, valued at over $40 billion

    Strategy is planning to offer five million shares of the company’s Series A perpetual strife preferred stock, $STRF, as it works on acquiring more Bitcoin.

    In an announcement, Michael Saylor’s Strategy said it intends to use the proceeds for “general corporate purposes,” including the “acquisition of Bitcoin.” However, it noted that this was “subject to market, and other conditions.”

    According to the company, the shares will accumulate cumulative dividends at a fixed rate of 10% per year. Dividends will be paid out beginning on June 30, 2025 “out of funds legally available for their payment,” Strategy said.

    Raising funds for Bitcoin

    The news comes as Strategy announced earlier this month that it’s planning to issue and sell shares of up to $21 billion in its at-the-market (ATM) program.

    Through selling shares of its 8.00% Series A perpetual strike preferred stock, $STRK, Strategy said the additional capital will be used for general corporate operations, including the purchase of more Bitcoin.

    The latest news also follows a recent Bitcoin purchase Strategy made in an announcement yesterday. In a post on X, Saylor said it had acquired 130 Bitcoin for $10.7 million at an average price of $82,981 per Bitcoin.

    To date, Strategy now holds 499,226 Bitcoin, valued at $40.92 billion, according to SaylorTracker.com.

    Peter Schiff, a long-time opponent of Bitcoin, commented on Saylor’s tweet, saying: “Is that all you bought?  Seems like you are running out of fire power.”

    Crypto prices decline

    News of Strategy’s recent Bitcoin purchase and its share offering comes as crypto prices across the market have seen a sharp decline.

    At the time of publishing, Bitcoin is trading around $81,000, a substantial drop from its all-time high of $109,000 reached in January ahead of US President Donald Trump’s inauguration.

    Market conditions and geopolitical issues continue to impact prices despite Trump signing an executive order in March to create a Strategic Bitcoin Reserve.

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  • Metaplanet to buy additional $11.7 million Bitcoin

    Metaplanet to buy additional $11.7 million Bitcoin

    Metaplanet loads more bitcoins with 42,466 BTC purchase
    • Metaplanet to raise ¥1.75 billion (over $11.7) in bonds to buy Bitcoin (BTC).
    • The publicly-listed Japanese company has also unveiled a shareholder benefits program.

    Metaplanet, a publicly-traded company listed in Japan, has announced plans to buy more Bitcoin (BTC) to add to its growing haul.

    On Nov. 18, the Tokyo Stock Exchange listed Bitcoin Treasury Company announced it was looking to raise ¥1.75 billion in bonds to buy the flagship cryptocurrency.

    The firm has issued one-year 0.36% bonds at ¥1.75 billion, approximately $11.7 million, and will use the proceeds to purchase more BTC. Currently, Metaplanet holds over 1,000 BTC.

    Metaplanet is Japan’s MicroStrategy

    Metaplanet’s board of directors resolved to issue the third series ordinary bonds during a meeting held on November 18, 2024, according to a regulatory disclosure. The bondholder will be EVO FUND, while the bonds will mature on November 17, 2025.

    In Oct., Metaplanet announced it had adopted ‘BTC Yield’ as a key performance indicator. This followed the industry pioneer MicroStrategy whose strategy continues to inspire several other companies. On its part, MicroStrategy is eyeing $42 billion in capital over the next two-to-three years to buy Bitcoin.

    Earlier this month, Michael Saylor revealed the US-based firm had acquired an addition 27,200 BTC for over $2 billion. Since the company started buying the scarce asset, it has hoarded 279,420 bitcoins purchased for over $11.9 billion.

    Over the past year, MicroStrategy’s treasury operations have seen holders get 26.4% in BTC Yield – representing 157.5 BTC in daily accumulation. As Saylor recently noted, his company has achieved this “without the operational costs or capital investments typically associated with bitcoin mining.”

    Metaplanet has announced a shareholder benefits program. According to the company, the program will offer exclusive perks and other added value offerings to shareholders. The firm is teaming up with VC Trade, Hotel Royal Oak Gotanda, The Bitcoin Conference, Bitcoin Magazine, and Webull Securities on this initiative.

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  • Microstrategy has bought an additional 5,445 BTC

    Microstrategy has bought an additional 5,445 BTC

    • MicroStrategy says it acquired the additional 5,445 bitcoins for $147.3 million at the average price of $27,053 per coin.
    • The company now holds 158,245 bitcoins acquired for a total of $4.68 billion.

    MicroStrategy Inc. (NASDAQ: MSTR), a leading finance software company, has added to its Bitcoin (BTC) haul again.

    In crypto news shared on Monday by Michael Saylor, the company’s founder and chairman, MicroStrategy recently acquired an additional 5,445 bitcoins to bring its total BTC holdings to over 158k.

    MicroStrategy now holds 158,245 bitcoins

    According to a filing with the US Securities and Exchanges Commission (SEC), MicroStrategy purchased the BTC for $147.3 million, acquiring each coin at the average price of $27,053. Per the document, the company now holds 158,245 BTC, which was cumulatively acquired for $4.68 billion. The average price of the entire acquisition is $29,582 per bitcoin.

    Saylor shared the news on his official X account on Monday.

    Bitcoin price outlook after MicroStrategy news

    BTC has not moved much over the past few days, with price ranging around the $26k level amid a lack of volatility across the market. On Monday, the benchmark cryptocurrency’s value was hovering around $26,130 on major crypto exchanges, with CoinGecko data showing a -1.8% return in the past 24 hours and 4.6% in the past seven days (as of 09:55 ET).

    For MicroStrategy, the declines below $27k (which was the average price for the latest purchase) means the 5,445 coins have seen a depreciation in value at current prices.

    As to what happens next for BTC, popular crypto analysts say there’s possibility fresh negativity could send the flagship crypto to support below $25k. A notable anchor below this level would be the psychological $20k zone.

    Crypto analyst and trader Joe Burnett says a bullish flip for BTC will take it to a new all-time high. With supply “incredibly dry”, all Bitcoin needs is a “spark of demand.”

    Among other catalysts, analysts are looking at the upcoming bitcoin halving and the potential for a first spot Bitcoin ETF approval by the SEC. Asset investment giant BlackRock is one of the companies looking to offer access to a spot ETF.

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