MicroStrategy is set to issue new stock, termed STRK, to raise $584 million aimed at increasing its Bitcoin holdings, which already amount to approximately $48 billion. This decision follows the firm's success in upsizing the deal from an initial target of $250 million. Founder Michael Saylor announced this on social media, stating that the net proceeds will go towards general corporate purposes, primarily for acquiring more Bitcoin. This move complements MicroStrategy's recent strategy to increase its authorized Class A common shares, enabling further capital generation for Bitcoin purchases. The company’s aggressive stance on Bitcoin acquisition reflects its shift from software sales to a business model centered around Bitcoin ownership. This strategy has proven profitable; the company's stock price has dramatically increased since it began purchasing Bitcoin in 2020. MicroStrategy currently holds over 471,107 Bitcoins, underscoring its commitment to the cryptocurrency market.

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