So they approved, that's really funny thing, but how they are going to manage all those funds. I covered this topic when they announced they are going to vote for this, and I started a topic too, I was waiting for an update so I could share it in my last thread, but thanks for sharing it here.
Please share your thoughts, on this from the perspective I covered it. I hope you don't mind me sharing it here:
While the market panics over institutional selling, a hilarious David and Goliath story is unfolding in Europe, where a France-listed company, Capital B, with a market cap of $166 million, has just proposed an insane $122 billion (yes, with a B) fundraise to buy more Bitcoin. They already hold around 3139 BTC while MSTR is holding massive 843,706 BTC and making Capital B a complete drop in the bucket compared to the giant MSTR. "They have not compared it with MSTR in their proposal. I did in this post." Because by comparing it with another company, we can get a better idea if it is news to be happy about or not. Because such news could be sold to create false hope in the market for manipulation purposes, maybe.
Anyway, before you guys ask what is happening and the kind of questions you find yourselves asking when you are hit with pure disbelief and your brain is trying to process what you just heard, to put all this audacity into perspective, they are trying to raise capital 760x their entire market valuation. On paper, this goal would dethrone MSTR, which sits on a massive $57 billion Bitcoin stash.
....
According to their share value, which is around $0.55 for now, to raise the equity portion of €5 billion, they would have to issue 125 billion new shares, and in stock market history, that kind of flood of new shares would massively dilute existing shareholders and could crash the value toward zero. So I don't know what the play here is or what Capital B is thinking. They don't have Wall Street behind them, and I don't know what shareholders are going to vote, but I do have an idea about the result.
