Enterprise software giant MicroStrategy Inc. has evolved into a Bitcoin powerhouse, and this week it was in the news yet again. Why? Because the company, led by Executive Chairman and co-founder Michael Saylor, has not only been buying up a massive amount of Bitcoin but also seems to be developing a new way to finance its crypto obsession, using what some might call a clever bit of financial engineering. In a Twitter post, Saylor sent the crypto community spinning with excitement. The post read: “Send More Orange.” Excited speculation in the Twitterverse besides, in the real world, what does it mean for MicroStrategy to send even more Bitcoin Orange way? MicroStrategy Bitcoin Accumulation Intensifies The most recent acquisition of Bitcoin by MicroStrategy occurred between May 26 and June 1, during which the company purchased 705 BTC for $75 million. Just one week earlier, the company had made an even larger buy of Bitcoin, adding 1,045 BTC worth $110.2 million to its balance sheet at an average price of $105,426 per coin. With these most recent additions, MicroStrategy now holds a total of 582,000 BTC, which have an approximate current market valuation of $62.7 billion. MicroStrategy( @Strategy ) bought another 1,045 $BTC ($110.2M) at an average price of $105,426 last week. #Strategy currently holds 582,000 $BTC ($62.7B), with an average buying price of $70,086 and an unrealized profit of $21.9B. https://t.co/319LQGdmJk pic.twitter.com/UufDG7BDV1 — Lookonchain (@lookonchain) June 9, 2025 MicroStrategy stays fully committed to Bitcoin and buys more of it. The company’s average purchase price is $70,086 per BTC, giving it an unrealized profit of $21.9 billion on its over 150,000 BTC at present. With consistent, sizable purchases, it’s obvious MicroStrategy is not just in it for the short term but is betting big on Bitcoin’s future. The company’s Bitcoin treasury is almost 12 times larger than that of its nearest rival, Mara Holdings. It is also bigger than the total known amounts of Bitcoin in the United States and China, two countries that appear to control huge sums of Bitcoin by way of law enforcement and asset seizures. In the world of corporate Bitcoin adoption, MicroStrategy is by far the biggest player. $1 Billion Stock Offering Targets Institutional Backers Besides accelerating its purchases of Bitcoin, MicroStrategy has also been very busy attempting to raise fresh capital. The enterprise recently announced that it is offering up to $1 billion worth of stock. That number is a major jump from the $250 million stock raise it had initially guided us to expect. This time around, the company is raising the funds by issuing 11.76 million shares of a new security—the 10% Series A Perpetual Preferred Stock, which is priced at a very affordable $85 per share. CMC News: MicroStrategy executive chairman Michael Saylor posted, "Send more Orange" on X, typically signaling incoming $BTC acquisitions. The cryptic message follows the company's recent purchase of 705 $BTC for $75 million between May 26 and June 1. MicroStrategy now holds… pic.twitter.com/X1OjKLqQHa — CoinMarketCap (@CoinMarketCap) June 9, 2025 What makes this offering distinct from prior funding rounds is the kind of stock being offered. This preferred stock, unlike the convertible notes and debt instruments the company has previously pushed, pays a non-cumulative 10 percent annual dividend. That move looks designed to attract institutional investors who want stable returns but without the kind of direct exposure to Bitcoin that other instruments the company has issued have. Instead of traditional debt, MicroStrategy now offers preferred shares. This reduces the pressure to make bond repayments and pay interest on those bonds. It also avoids the dilution risk associated with convertible bonds. This is a strategic shift that reflects the company’s growing maturity in how it funds its crypto-centric operations. It also makes the company much more appealing to risk-averse institutional capital. Michael Saylor’s Bitcoin Vision Remains Unshaken Since the first major acquisition of Bitcoin in 2020, Michael Saylor has consistently and vocally pro-Bitcoin. When he posted “Send more Orange” on X, the Bitcoin community took it immediately as another message urging for more Bitcoin purchases. Saylor has only ever used “orange” as a Bitcoin rallying cry a single time. And yet, for that reason alone, I cannot quite fathom trying to use “orange” as a substitute. It is also noteworthy that Saylor’s recent missive, far from exceeding the excitement provoked by earlier instances of ordering Bitcoin in bulk, is at least arguably less exciting than some of the past proclamations or directives. MicroStrategy, under Saylor’s guidance, has metamorphosed from a conventional software business into a powerful force in the digital asset domain. Its change in direction seems more than just a pivot into a hot new area. It appears to reflect Saylor’s and the company’s deep conviction that Bitcoin isn’t just a hedge against inflation but a far better store of value than whatever you may have in the way of fiat currency or traditional financial assets. Even though Bitcoin is a highly unstable asset class, MicroStrategy’s excellent position—complete with sizable unrealized gains and a well-laid capital plan—gives the company a strong financial cushion. Saylor treats Bitcoin as digital real estate, not as a kind of digital monkey business. He believes that more and more institutional investors are taking this same long view. Conclusion MicroStrategy’s recent activities, from purchasing massive amounts of Bitcoin to bringing forth a fresh $1 billion preferred stock offering, only serve to emphasize the company’s nearly fanatical devotion to Bitcoin and, more broadly, the whole digital asset space. And why not? With 582,000 BTC now stacked in its treasury and a looking-ahead-to-the-next-move capital strategy aimed squarely at institutional investors, MicroStrategy under the continued stewardship of its co-founder and executive chairman Michael Saylor seems to be, if not quite leading the charge, then at least shuffling to the front of the Bitcoin corporate adoption narrative. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
