MicroStrategy's Homage to Satoshi on Bitcoin Whitepaper Anniversary

Today marks the 16th anniversary of the Bitcoin Whitepaper release by the enigmatic Satoshi Nakamoto. Michael Saylor, CEO of MicroStrategy and a strong Bitcoin advocate, expressed his gratitude with a "Thank you, Satoshi" message on his X account.

However, this isn’t the end of the news. Saylor's farewell message came with a screenshot of MicroStrategy's stock prospectus supplement, signaling the intent to raise $21 billion through the sale of Class A common stock.

Just a day prior, news broke about the software producer planning to collect a total of $42 billion over the next three years amidst its earnings report. Half of this amount, or $21 billion, will originate from the sale of MSTR stock, which resonates with Bitcoin's symbolic nature—its total supply is 21 million BTC. Saylor’s message today hints at this connection.

The funds raised will be directed towards purchasing more Bitcoin.

Important Considerations

Interestingly, the prospectus mentions that potential price fluctuations of BTC could require MicroStrategy to convert the bought cryptocurrency into cash at a value significantly below what was raised from the offering.

Currently, MicroStrategy has invested nearly $10 billion, acquiring 252,200 BTC. Should this new offering succeed, the software giant could double its investment to around $30 billion upon completion of the deal.