MicroStrategy to Reinvest $500M of Stock Sales in Bitcoin: SEC Filing
Buying the drop is critical for MicroStrategy as the company's reserve of nearly 129,699 BTC is currently experiencing a loss of cumulative value of more than one billion dollars.
New
MicroStrategy, the largest institutional buyer of Bitcoin (BTC), has reached an agreement with two agents - Cowen and Company and BTIG - to sell its aggregate Class A common stock worth $500,000,000, reveals Securities and Exchange Commission (SEC) filing.
MicroStrategy, co-founded by Bitcoin bull Michael Saylor, has amassed approximately 129,699 BTC over several years at a total purchase price of $3.977 billion. Despite market uncertainties, the trading analytics software company continues to pursue its goal of acquiring more BTC by selling shares of the company. The confirmed deposit:
"We intend to use the net proceeds from the sale of any Class A common stock offered under this prospectus for general purposes, including acquiring bitcoin, unless otherwise specified in the applicable prospectus supplement."
Buying the dip is critical for MicroStrategy as the company's BTC reserve has fallen to an aggregate value of nearly $2.8 billion, resulting in a loss of over $1 billion. dollars, as data from Bitcoin Treasuries shows.
Extracted from MicroStrategy SEC folder. Source: SEC.govCoincidentally, on the day of the filing, data from Cointelegraph Markets Pro and TradingView showed that the BTC/USD price rose 11% to nearly 21 $500.
Related: Bitcoin Could Become a Zero Emissions Network: Report
The FBI, along with two other federal agencies, CISA and MS-ISAC, have asked U.S. citizens to report information...
Buying the drop is critical for MicroStrategy as the company's reserve of nearly 129,699 BTC is currently experiencing a loss of cumulative value of more than one billion dollars.
New
MicroStrategy, the largest institutional buyer of Bitcoin (BTC), has reached an agreement with two agents - Cowen and Company and BTIG - to sell its aggregate Class A common stock worth $500,000,000, reveals Securities and Exchange Commission (SEC) filing.
MicroStrategy, co-founded by Bitcoin bull Michael Saylor, has amassed approximately 129,699 BTC over several years at a total purchase price of $3.977 billion. Despite market uncertainties, the trading analytics software company continues to pursue its goal of acquiring more BTC by selling shares of the company. The confirmed deposit:
"We intend to use the net proceeds from the sale of any Class A common stock offered under this prospectus for general purposes, including acquiring bitcoin, unless otherwise specified in the applicable prospectus supplement."
Buying the dip is critical for MicroStrategy as the company's BTC reserve has fallen to an aggregate value of nearly $2.8 billion, resulting in a loss of over $1 billion. dollars, as data from Bitcoin Treasuries shows.
Extracted from MicroStrategy SEC folder. Source: SEC.govCoincidentally, on the day of the filing, data from Cointelegraph Markets Pro and TradingView showed that the BTC/USD price rose 11% to nearly 21 $500.
Related: Bitcoin Could Become a Zero Emissions Network: Report
The FBI, along with two other federal agencies, CISA and MS-ISAC, have asked U.S. citizens to report information...
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