MicroStrategy Announces Plan to Sell $1 Billion Stock to Get More Money to Buy Bitcoin

Just hours after announcing the completion of the issuance of $500 million in debt bonds to buy Bitcoin, as reported by Coinlive, the company MicroStrategy continues to “speak” to sell $1 billion of shares to raise more capital invest in the cryptocurrency market.

In a filing with the U.S. Securities and Exchange Commission (SEC), MicroStrategy said it is planning to issue $1 billion worth of shares to the market. The money raised will be used for many different purposes, but the most prominent one is to continue to serve the company’s Bitcoin investment activities.

The amount of BTC that MicroStrategy is holding is so large that in its filing with the SEC, the company claims it has become its main investment asset. As of last week, MicroStrategy owns 92,079 BTC, worth over $3.6 billion at press time.

MicroStrategy Launches “At the Market” Securities Offering for Flexibility to Sell Up to $1 billion of its Class A Common Stock Over Time $MSTRhttps://t.co/qouK8pFmBF

— Michael Saylor (@michael_saylor) June 14, 2021

MicroStrategy’s SEC statement reads:

“We intend to use the funds raised from the sale of Class A shares as per this filing for business purposes, including the purchase of Bitcoin. We have not yet decided on a specific amount to spend on this activity. Therefore, the board of directors will retain full discretion on how to allocate the above funds for upcoming activities.”

Earlier, on the evening of June 15, MicroStrategy said that it had completed the process of raising $ 500 million from debt bond issuance and will use all this money to buy Bitcoin in the near future. The company also claims to have received pledges of up to $1.6 billion from interested organizations, but was only able to satisfy $500 million.

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