MicroStrategy Inc. plans to sell a record-breaking $21 billion in new shares to increase its Bitcoin holdings. This equity plan surpasses the previous record set by Tesla Inc. about four years ago.
The company has engaged banks to facilitate the sale through an at-the-market offering, which is a strategy that aligns with recent trends among firms with strong retail investor support.
Other companies like GameStop Corp. and AMC Entertainment Holdings Inc. have also flooded the market with new shares to take advantage of their investor bases.