Forum Topics CRYP CRYP Microstrategy Capital Raise

Pinned straw:

Added 12 months ago

Microstrategy issued over 1 million shares to raise $600 million USD to buy more Bitcoin.

"On December 27, 2023, MicroStrategy Incorporated (“MicroStrategy”) announced that, during the period between November 30, 2023 and December 26, 2023, MicroStrategy, together with its subsidiaries, acquired approximately 14,620 bitcoins for approximately $615.7 million in cash, at an average price of approximately $42,110 per bitcoin, inclusive of fees and expenses. As of December 26, 2023, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 189,150 bitcoins, which were acquired at an aggregate purchase price of approximately $5.895 billion and an average purchase price of approximately $31,168 per bitcoin, inclusive of fees and expenses"

Microstrategy, which is a 8.5% holding in $CRYP, was up 11.5% on the announcement.

Chagsy
Added 12 months ago

@Rapstar

its certainly good times again for miners. As per my other post, they are now earning pretty good yield on their BTC holdings so now need to sell less of their BTC holdings to fund ongoing operations. In a bull market this is an ever improving virtuous circle.

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