Strategy Files SEC Registration to Raise $500 Million for Bitcoin Acquisition
Strategy, formerly known as MicroStrategy, filed with the SEC to raise $500 million via a stock offering to increase its Bitcoin holdings. The company plans to issue 5 million shares of 10% Series A Perpetual Strife Preferred Stock at $100 per share. This capital will be used for general corporate purposes, including Bitcoin acquisitions.
Key Details
- Previously announced a plan to raise $21 billion through an offering of 8% Series A perpetual strike preferred stock.
- Acquired 130 BTC for $10.7 million, averaging $82,981 per Bitcoin.
- Total Bitcoin holdings now at 499,226 BTC, purchased at an average price of $66,360 per BTC.
- Founder Michael Saylor predicts Bitcoin will reach $440,000 by year-end.
Contrasting Predictions
CryptoQuant CEO Ki Young Ju forecasts that Bitcoin's bull cycle has ended, predicting 6-12 months of bearish or sideways movement based on on-chain metrics indicating a bear market. He noted:
- Recent trading volume around $100K failed to sustain upward momentum.
- Negative ETF inflows for three consecutive weeks contributing to bearish sentiment.
FOMC Meeting Impact
The FOMC meeting on March 19 is seen as critical for financial markets. The probability of the Federal Reserve ending Quantitative Tightening before May is now at 100%, which could impact Bitcoin demand if a dovish stance is indicated.
Current Bitcoin Price
Bitcoin trades at $81,499.71, down 1.46% in the last 24 hours and 15.87% over the past 30 days. The Relative Strength Index (RSI) is at 40.85, suggesting weak momentum.