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Michael Saylor’s Strategy (MSTR) is raising its target for its equity sale to fund Bitcoin purchases to $2 billion, quadrupling its original target. The company is moving ahead with the sale of its Series A Perpetual Stretch preferred shares, which will be priced at $90 each. Strategy is continuing its massive Bitcoin plan as the coin continues to surge, most recently hitting an ATH of $123,000. This offering comes at a time when the company’s stock has surged 42.5% year-to-date, and is trading around $417 on Thursday. The offering is being managed by a group of banks, including Morgan Stanley, Barclays, Moelis & Company, and TD Securities. The sale will include 5 million Stretch shares, a number confirmed by Bloomberg. Strategy acquired 4,225 BTC between July 7 and July 13 at an average price of $111,827 per coin. That latest purchase brings Strategy’s total holdings to 601,550 BTC, acquired at a combined purchase price of $42.87 billion and an average cost basis of $71,268 per ...

Tokyo-listed firm Metaplanet has raised 74.9 billion JPY, which is around $515 million, to buy more Bitcoin after it recently announced plans to acquire 1% of BTC’s 21 million supply. In a filing today, the company’s primary backer, EVO Fund, exercised 540,000 stock-acquisition rights, and converted them into 54 million new shares. This issuance represents 29% of the total rights issued in Metaplanet’s 20th warrant series, with about 1.31 million rights equal to 131 million shares still remaining. Metaplanet Seeks To Raise $5.4B To Grow Its Bitcoin Stockpile The large sale comes shortly after Metaplanet revealed its intentions to issue 555 million shares, which is around 92% of the total outstanding shares, to raise $5.4 billion in new capital. The proceeds from this raise will then be used to fund more Bitcoin purchases, the company said. That move is being dubbed the “555 Million Plan,” and is part of Metaplanet’s goal to amass 30,000 BTC by t...