Noting this bullish news for BTC overnight ... and also that the price fell a little.
Strategy plans to sell $500 million of dollar-denominated perpetual preferred stock.
The firm says it intends to use proceeds for
- general corporate purposes
- acquisition of Bitcoin
- for working capital
Crypto media carry more info if you are after it. Mainstream media (Bloomberg - gated) also have a little more:
- This issuance follows Strategy’s recent purchase of $10.7 million worth of Bitcoin. It plans to issue up to $21 billion of preferred stock to acquire more of the cryptocurrency.
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Bitcoin update:
