Bitcoin treasury company MicroStrategy keeps coming up with new ways to buy more Bitcoin. The company on Friday announced it has finalized the price of its new stock—STRK—which it will use to raise funds to amass even more Bitcoin for its treasury.

STRK will go on the market for $80 per share, and the company hopes to use the proceeds to buy Bitcoin. MicroStrategy co-founder and chairman Michael Saylor announced on X, formerly Twitter, that the company had upsized the deal from raising $250 million to $584 million.

In a statement, the firm said that it expects to end up with net proceeds of $563.4 million from the sale, which will go towards “general corporate purposes, including the acquisition of Bitcoin and for working capital.”

Just last week, the company’s shareholders voted for a 30x increase to the number of authorized Class

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Author: Mathew Di Salvo