Hot Development: MicroStrategy Applies for $21 Billion Share Issuance to Buy Bitcoin! - Coin Newsletter

MicroStrategy, known as the world's largest institutional Bitcoin investor, plans to continue its Bitcoin (BTC) purchases without slowing down with a $21 billion preferential stock issuance.**

MicroStrategy Inc., considered the largest institutional Bitcoin whale in the cryptocurrency industry, has filed a formal prospectus to offer a total of up to $21 billion in preferred stock. These stocks, which will be offered by the company, will provide a fixed return of 8 percent and will not have any expiration. The funds to be raised are expected to be used for general institutional needs, especially Bitcoin.

While MicroStrategy did not specifically mention a new BTC purchase in its filing, it emphasized that Bitcoin will continue to be at the center of the company's core investment strategy. MicroStrategy, which has made a splash in the cryptocurrency world with its huge BTC investments, is expected to further expand its portfolio with this move.**

Bitcoin is on the rise

MicroStrategy's massive attempt to raise new funds has also created a positive atmosphere for Bitcoin's price. As the price of Bitcoin is on the rise, investors see such big moves by the company as a catalyst for the market.

With its latest purchase, the company brought its total Bitcoin holdings to 499,096 BTC. Currently, the average purchase cost of Bitcoin investments is $66,357