Technology
MicroStrategy’s $21 Billion Equity Plan Tops Tesla for Record
- Company raised over $3.5 billion through programs this year
- Equity plan is part of a broader $42 billion fundraising goal
Michael Saylor
Photographer: Eva Marie Uzcategui/BloombergThis article is for subscribers only.
MicroStrategy Inc. laid out plans to sell a record $21 billion in new shares to add to its stockpile of Bitcoin, opening the door to a program that would far surpass the milestone Elon Musk’s Tesla Inc. set about four years ago.
The Bitcoin hedge-fund proxy’s hiring of banks to sell stock through a so-called at-the-market offering continues a string of deals for companies with diehard retail investor fanbases, after GameStop Corp. and AMC Entertainment Holdings Inc. flooded the market with new shares.