Michael Saylor sends out new Bitcoin purchases as strategy launches $1B stock

Strategy co-founder and executive chairman Michael Saylor released a chart of the company’s bitcoin holdings on June 8, indicating the possibility of an upcoming acquisition.

June 8, Seller Posted “Send More Orange” on X. Saylor’s secret posts are usually announcements of the new Bitcoin (BTC)Buy. If the strategy follows the position with additional BTC purchases, it will mark the ninth week of the company’s continuous purchase of Bitcoin.

The post was posted shortly after the company purchased another 705 BTC Between May 26 and June 1, there is about $75 million The average price per coin is $106,495, bringing the company’s total Bitcoin holdings to 580,955 BTC, which is currently worth about $61.4 billion.

Saylortracker data shows that the company’s investment grew by about 50%, totaling about $200.6 billion unrealized profits.

Strategy to offer $1 billion in stock to buy more Bitcoin

Saylor’s X post follows the strategy $1 billion in stock announcedQuadrupling previously announced a $250 million salary increase. The company said it will use the proceeds to fund other bitcoin purchases and general company fees.

The product involves 11.76 million shares of its 10.00% Series A permanent preferred stock, priced at $85 per share. The strategy expects to raise approximately $979 million after the expenses of underwriting and other dues are deducted.

Unlike past financing methods, the non-cumulative dividend for preferred stocks is 10%. This attracts institutional and professional investors with yields. It aims to provide more predictable investor returns, while the company continues to pursue its aggressive Bitcoin accumulation strategy.