Michael Saylor's Bitcoin Investment Strategy

The strategy of Michael Saylor, the world's largest publicly-held Bitcoin company, is planning to raise up to $21 Bit in new capital to buy more Bitcoin. On March 10, the company announced that it has entered into an at-the-market (ATM) equity offering agreement, allowing it to issue and sell Class A perpetual preferred stock to raise capital for general corporate purposes, including the purchase of additional Bitcoin.

Under the "ATM Program" agreement, the company expects to sell in a disciplined manner over an extended period, based on the trading price and volume of the Class A perpetual preferred stock at the time of such sales.

The company intends to use the net proceeds from the ATM Program for general corporate purposes, including the purchase of Bitcoin and working Capital. This announcement comes as the company holds 499,096 BTC, worth approximately $41.2 Bit, which were purchased at an average price of $66,423 per BTC.

Previously, the company had also disclosed plans to issue Class A common stock to raise up to $21 Bit in equity Capital and $21 Bit in fixed-income securities over the next three years, under a "21/21 Plan" to accumulate more Bitcoin. This is an evolving story, and more information will be provided as it becomes available.