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Michael Saylor's strategy to raise 300 billion yen for additional Bitcoin acquisition.
On the 22nd, Strategy announced the launch of an ATM program to issue up to $2.1 billion (¥300 billion) of STRF, a perpetual preferred stock with a 10% dividend. The company plans to conduct a phased and strategic share sale over a long period of time, taking into account the market price and trading volume.
The raised funds are planned to be allocated for general corporate purposes, acquiring Bitcoin, and working capital, continuing the aggressive BTC investment strategy of Strategy Co. The company had additionally acquired 7,390 BTC between May 12 and 18 last week.
Strategy Corporation currently holds 576,230 BTC (over 2.7% of the total Bitcoin supply of 21 million) with a market capitalization exceeding $64 billion. The average acquisition price is $69,726, with a total cost of approximately $40.2 billion and an unrealized gain of about $23.8 billion.
The issuance of STRF this time is part of the company's "42/42" plan, aiming to raise a total of $84 billion through stock issuance and convertible bonds by 2027 to further increase its Bitcoin holdings.