Michael Saylor’s Strategy Raises $250 Million for Further Bitcoin Investments

The publicly traded company, formerly known as MicroStrategy, aims to raise $250 million through an initial public offering (IPO) of perpetual preferred stock. This funding will enable the firm to acquire more Bitcoin and secure working capital. The offering comprises 2.5 million shares of its Series A Perpetual Stride Preferred Stock, trading under the ticker STRD, at a price of $100 per share. Proceeds from the offering will specifically be used for buying Bitcoin and managing operational expenses. 20% of the stock is set aside for public investors while the remaining 80% will be allocated to institutional investors.