MicroStrategy implements its '42/42' strategy with plans to raise $3 billion through preferred stock offerings, aiming to accumulate $84 billion in Bitcoin holdings by 2027.
MicroStrategy has purchased 4,020 BTC for $427 million between May 19-25, bringing its total holdings to 580,250 BTC. The acquisition, made at an average price of $106,237 per BTC, raises the company's average cost basis to $69,979. The firm plans to issue up to $3 billion in perpetual preferred stock to further increase its Bitcoin holdings, targeting $84 billion by 2027.