MicroStrategy Is Raising Another $2B to Buy More Bitcoin

The world's largest institutional holder of BTC is raising money to, yet again, buy Bitcoin.

Institutions are continuing to show their love for Bitcoin. MicroStrategy, being the world’s largest institutional holder of BTC, is planning on buying more of the flagship digital asset. Currently, the company’s BTC holdings are valued at US$14.8 billion (AU$22.8 billion). In comparison, the next largest company holdings of Bitcoin is “only” valued at US$1.3 billion (AU$2 billion).

Now, MicroStrategy is planning on raising another US$2 billion (AU$3.08 billion) to add to their BTC coffers. The company has filed an application to launch a new equity program that will allow them to raise funds for further Bitcoin purchases. This news comes after MicroStrategy’s recent announcement that they had acquired an additional 169 BTC in July for $11.4 million, bringing their total BTC holdings to 226,500 BTC.

MicroStrategy also announced that they will be hosting a conference call at 5pm ET to discuss their Q2 2024 financial results, the outlook for BTC, and their Bitcoin development strategy. The company is also inviting everyone to join them on the call.

However, despite the company’s continued love for Bitcoin, things may not be as rosy within the company as they appear. Some investors have raised concerns about MicroStrategy’s cash flows in the current tech climate andასტაგნანტური შემოსავალი.

Those fears became realised overnight, as MicroStrategy released their Q2 financial results, with the company posting a loss. The market did not take too kindly to the results, even with many in the industry already flagging a potential slowdown of income. The Q2 statement was worse than expected, and MicroStrategy’s stock (ticker: MSTR) fell more than 6% in less than a day.

Analyst at TD Cowen, Lance Vitanza, echoed the ongoing concerns, telling Bloomberg: