Michael Saylor, co-founder of MicroStrategy, has hinted at the possibility of buying more Bitcoin.
In a November 24 post on X (formerly Twitter), Saylor hinted at the company’s plans following its successful $3 billion funding round on November 22.
MicroStrategy’s $3 Billion Funding Could Support New Bitcoin Purchases
The Bitcoin optimist mentioned that MicroStrategy’s portfolio tracker, SaylorTracker, “needs more green dots.” These symbols represent each Bitcoin purchase by the company, fueling speculation of another significant purchase.
Saylor’s recent suggestions mirror posts from the previous two Sundays, which led to announcements of large-scale Bitcoin purchases. During this period, MicroStrategy added approximately 80,000 BTC to its reserves, worth over $6 billion at the time.
Meanwhile, clause 3 billion USD in funding recently — raised through the issuance of convertible debt — could play an important role in financing these new purchases. The convertible notes, sold privately to institutional investors under U.S. securities laws, will mature on December 1, 2029. These notes have a 55% premium and an implied exercise price of $672 per share of MicroStrategy Class A common stock.
Market observers note that the capital raising is in line with MicroStrategy’s ambitious “21/21” initiative, which aims to raise $42 billion over three years through a mix of equities and publics. fixed income instrument.
The company remains the largest public entity holding Bitcoin, with 331,200 BTC valued at over $32.7 billion. According to Saylor, MicroStrategy’s treasury operations have delivered a 41.8% Bitcoin return year-to-date, generating a net profit of about 79,130 BTC, or about 246 BTC per day, without accounting for associated operating costs. to exploit.
Furthermore, this strategy has also boosted MicroStrategy’s stock performance. MSTR stock has increased more than 515% since the beginning of the year, becoming one of the most traded stocks in the United States.
Saylor emphasized that MicroStrategy’s operations are driven by its Bitcoin treasury, optimized through strategic financial tools such as its ATM offering, allowing the company to reduce risk and volatility while increasing value shareholders.
“MicroStrategy is buoyed by its Bitcoin treasury work. We sell volatility through our ATM offering, de-risk BTC, volatility and performance from our fixed income securities, and pass that performance on to MSTR shareholders. us,” he stated.