Michael Saylor, co-founder of MicroStrategy, has hinted at the possibility of buying more Bitcoin.
In a post on X (formerly Twitter) on November 24, Saylor hinted at the company's plans following a successful $3 billion capital raise on November 22.
MicroStrategy's $3 Billion Capital Raise Could Support New Bitcoin Purchases
The Bitcoin optimist mentioned that MicroStrategy's portfolio tracker, SaylorTracker, "needs more green dots." These symbols represent each time the company buys Bitcoin, sparking speculation about another significant purchase.
Saylor's recent hints reflect posts from the two previous Sundays, leading to announcements about large-scale Bitcoin purchases. During this period, MicroStrategy added around 80,000 BTC to its reserves, worth over $6 billion at the time.
Meanwhile, the recent $3 billion financing — raised through the issuance of convertible debt — could play a key role in funding these new purchases. The convertible notes, privately placed with institutional investors under U.S. securities laws, will mature on December 1, 2029. These notes have a 55% premium and an implied exercise price of $672 per share of MicroStrategy's Class A common stock.
Market observers note that this capital raise aligns with MicroStrategy's ambitious "21/21" initiative, aiming to raise $42 billion over three years through a mix of equity and fixed-income instruments.
The company remains the largest public holder of Bitcoin, with 331,200 BTC valued at over $32.7 billion. According to Saylor, MicroStrategy's treasury operations have generated a 41.8% Bitcoin yield year-to-date, creating a net profit of around 79,130 BTC, or approximately 246 BTC per day, excluding related mining expenses.
Furthermore, this strategy has also driven MicroStrategy's stock performance. The MSTR stock has risen over 515% since the beginning of the year, becoming one of the most actively traded stocks in the U.S.
Saylor emphasized that MicroStrategy's operations are driven by its Bitcoin holdings, optimized through strategic financial tools like providing ATMs, allowing the company to reduce risk and volatility while increasing shareholder value.
"MicroStrategy is energized by its Bitcoin treasury operations. We are selling volatility through our ATM program, eliminating BTC risk, volatility, and fixed-income performance, and transferring that performance to our MSTR shareholders," he stated.
