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Neela
@neela
MicroStrategy’s preferred MSTR issuance seeks ‘returns and volatility’ at 1.5x bitcoin, Saylor says MicroStrategy plans to raise $2 billion this quarter through perpetual preferred stock, advancing its strategy to provide leveraged Bitcoin exposure. Co-founder Michael Saylor highlighted the securities' potential for volatility and optionality tied to Bitcoin's value. The company recently purchased 2,530 BTC, bringing its holdings to 450,000 BTC worth over $40 billion. Saylor praised President-elect Trump's crypto-friendly stance and suggested SAB 121 might be repealed. Benchmark maintains a "buy" rating on MSTR stock, targeting $650. Corporate Bitcoin acquisition strategies are seen as a significant market driver for 2024.
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