MicroStrategy Moves Toward Raising $42 Billion for Bitcoin
- Banks hired for $21 billion at-the-market stock program
- Firm raised $2.1 billion in stock, debt sales in third quarter
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MicroStrategy Inc. has hired banks to help it raise $42 billion through the sale of new shares and fixed income to buy more Bitcoin after a flurry of deals over the past year.
The enterprise software maker, co-founded by Chairman Michael Saylor, hired a handful of banks to sell stock through a so-called at-the-market offering that could net it $21 billion while lining up potential sales of fixed-income securities that could bring in the same amount.