- Michael Saylor’s Microstrategy makes risky move to buy more Bitcoin
- Microstrategy launches a $21B ATM offering for its perpetual preferred stocks
- MSTR dropped down 11.2% at 12.01 pm, but BTC sparked shortly to $83K
Michael Saylor’s Microstrategy makes a risky move to buy more Bitcoin and launches a $21B ATM offering for its 8.00% Series A perpetual preferred stocks.
More About Michael Saylor’s Microstrategy Move and ATM Launching
So, Michael Saylor probably decided to raise more capital as quickly as possible, even at risk, to take advantage of Bitcoin dips like El Salvador and increase company reserves. So Microstrategy is launching an ATM offering for its 8.00% Series A perpetual preferred stock and using the proceeds to strengthen the company’s position as one of the largest holders of Bitcoin.
However, such a risky move did not go unnoticed by the market, and MSTR stocks on NASDAQ dropped 11.2% at 12.01 PM. This is not surprising such risky moves are not something that shareholders usually favor.
Still, the price of Bitcoin, probably among other factors, was positively affected, as it showed a rebound to $83K after a series of several drops.
Conclusion
It seems the big players are trying to capitalize on Bitcoin’s fall, which may point to a few interesting assumptions. If they expect the decline to continue, they would probably leave drastic measures for later. If, on the other hand, they expect an upturn, then strong action to get more Bitcoin seems more timely.
However, even the big players can be wrong, and this is also one option that should always be considered. Stay tuned for updates and be aware of the rapidly evolving financial and crypto landscape.
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