MicroStrategy Raises $602.8M, Allocates $369.7M to Bitcoin

MicroStrategy has announced that it raised $602.8 million by selling shares of its common stock, MSTR. This move follows a 10-week pause in Bitcoin purchases and ties directly to the company's Bitcoin treasury program.

The proceeds from the sale were split, with $369.7 million directed towards acquiring Bitcoin. The remaining $233.1 million will be used for other treasury purposes, but its allocation has yet to be determined.

Equity issuance remains MicroStrategy's core funding mechanism for its Bitcoin program. This raise ranks in the 95th percentile among post-IPO equity rounds for US fintech companies.