Saylor Signals Potential Bitcoin Acquisition Following Recent Capital Raise
Michael Saylor, co-founder of Strategy, has hinted at an upcoming Bitcoin (BTC) purchase following the company’s recent capital raise through a preferred stock offering.
Strategy Raises $711 Million, Hints at Bitcoin Purchase
On March 21, Strategy announced the pricing of its latest preferred stock offering, raising approximately $711 million. The preferred shares were sold at $85 each, featuring a 10% coupon. Shortly after, Saylor posted a Bitcoin chart on social media platform X, playfully suggesting the company “needs more orange,” signaling a potential BTC acquisition when markets reopen.
The company’s most recent Bitcoin purchase occurred on March 17, acquiring 130 BTC valued at $10.7 million. This brought Strategy’s total Bitcoin holdings to 499,226 BTC, according to data from SaylorTracker.
Saylor Advocates for US Government Bitcoin Acquisition
Saylor continues to advocate strongly for Bitcoin adoption, recently proposing that the U.S. government should acquire 25% of Bitcoin’s total supply by 2035, when 99% of BTC will have been mined. He also urged the government to adopt a comprehensive digital asset framework in his proposal titled “A Digital Assets Strategy to Dominate the 21st Century Global Economy.”
Speaking at the recent Blockworks Digital Asset Summit, Saylor emphasized Bitcoin’s unique investment value, stating:
“Gold still underperforms the S&P Index by a factor of two or more, so there is only one commodity in the history of the human race that was not a garbage investment — the one commodity is Bitcoin — a digital commodity.”
Key Points:
- Strategy raised $711 million through preferred stock offering.
- Saylor hints at imminent Bitcoin purchase following capital raise.
- Strategy currently holds 499,226 BTC, with over $9.3 billion in unrealized gains.
- Saylor urges U.S. government to acquire significant Bitcoin holdings and adopt digital asset framework.
