Michael Saylor’s ‘Strategy’ To Raise Up To $21B To Buy More Bitcoin

Authored by Helen Partz via CoinTelegraph.com,

Michael Saylor’s Strategy, the world’s largest public corporate Bitcoin holder, is looking to raise up to $21 billion in fresh capital to purchase more BTC.

On March 10, Strategy officially announced that it entered into a new sales agreement that would allow the firm to issue and sell shares of its 8% Series A perpetual strike preferred stock to raise funds for general corporate purposes, including potential Bitcoin (BTC) acquisitions.

As part of the agreement deal, dubbed the “ATM Program,” Strategy expects to make sales “in a disciplined manner over an extended period,” taking into account the trading price and volumes of the perpetual strike preferred stock at the time of sale.

“Strategy intends to use the net proceeds from the ATM Program for general corporate purposes, including the acquisition of Bitcoin and for working capital,” the firm said in the filing with the Securities and Exchange Commission (SEC).

The announcement comes amid Strategy holding 499,096 BTC ($41.2 billion), which it acquired for an aggregate amount of $33.1 billion at an average price of $66,423 per BTC.

The company previously disclosed plans to issue and sell shares of its class A common stock to raise up to $21 billion in equity and $21 billion in fixed-income securities over the next three years in order to accumulate more Bitcoin under its “21/21 plan.”

Despite suffering its largest weekly decline on record, Strategy remained ahead on its BTC purchases. 

In total, Strategy has spent $33.1 billion on Bitcoin purchases, while its holdings are now valued at $41.2 billion – a 24% unrealized gain even amid the correction.

Strategy founder Michael Saylor has proposed that the United States government acquire up to 25% of Bitcoin’s total supply over the next decade for its Strategic Bitcoin Reserve.

“Acquire 5-25% of the Bitcoin network in trust for the nation through consistent, programmatic daily purchases between 2025 and 2035, when 99% of all BTC will have been issued,” Saylor wrote in a document titled “A Digital Assets Strategy to Dominate the 21st Century Global Economy.”

Saylor reiterates to the US government, “Never sell your Bitcoin”

Saylor presented the document to US President Donald Trump, government executives, and global crypto leaders at the White House Crypto Summit on March 7.

He explained that the government should stick to a “Never sell your Bitcoin” policy, predicting that by 2045, the Strategic Bitcoin Reserve could generate over $10 trillion annually and serve as a “perpetual source of prosperity” for Americans.

Up until 2045, Saylor said the Reserve could generate between $16 trillion and $81 trillion for the US Treasury, potentially easing the national debt.

Source: Michael Saylor

Earlier that day, Trump signed an executive order establishing a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile,” initially funded with cryptocurrency seized in criminal cases.

While it didn’t include an immediate plan to buy more Bitcoin, the order stated that the Treasury and Commerce secretaries would develop “budget-neutral strategies” for acquiring more Bitcoin, ensuring no added costs for taxpayers.