MicroStrategy Launching $500M Bitcoin Buying Spree, With Option for Extra $75M

MicroStrategy is conducting a $500M private offering to purchase more bitcoin, with an option to purchase an additional $75M
The company will use proceeds to buy more bitcoin and for general corporate purposes
MicroStrategy founder Michael Saylor is highly bullish on bitcoin, stating the company has purchased over 12,000 bitcoins recently
MicroStrategy has purchased around 16,000 bitcoins so far in 2022
Analysts have a $1,383 average price target for MSTR stock, though it has surged over 100% year-to-date alongside bitcoin's 60%+ gains