Strategy (MSTR) is raising another $21 billion U.S. to fund its ongoing purchases of Bitcoin (BTC).
The software company turned serial Bitcoin acquirer says it is preparing a common stock sale called the “42/42 Plan” that aims to secure $84 billion U.S. of capital over the next two years.
The new plan arrives six months after Strategy introduced its “21/21 Plan” that had the goal of raising $21 billion U.S. through equity offerings and another $21 billion U.S. through fixed-income securities.
News of the latest capital raise comes as Strategy bought more Bitcoin in recent days and exhausted its 2024 at-the-market common stock offering in the process.
The company, led by Chairman Michael Saylor and formerly known as MicroStrategy, purchased 1,895 Bitcoins at a cost of $180.3 million U.S., or $95,167 U.S. each, between April 28 and May 4.
Strategy disclosed its latest acquisitions in a form filed with the U.S. Securities and Exchange Commission (SEC).
The latest acquisitions brought the company’s total holdings to 555,450 Bitcoins purchased at a cost of $38.08 billion U.S., or around $68,550 U.S. per digital token.
Strategy is the largest corporate owner of Bitcoin in the world.
The company said its latest purchases of Bitcoin marked the end of its $21 billion U.S. program established last fall.
Strategy frequently sells equity, debt, and preferred stock to raise capital to fund its Bitcoin purchases.
The stock of Strategy has gained 29% this year and currently trades at $386.53 U.S. per share.
