MicroStrategy, a US-based software company that is also the most optimistic investor, holding the largest amount of Bitcoin in the world, said it has no limit on Bitcoin purchases nor specific goals for holding. their BTC.
MicroStrategy has no limits on Bitcoin purchases mua
“We will continue to monitor market conditions to determine whether to proceed with debt financing or equity financing to purchase more bitcoin,” the company said in a prospectus filed with the Commission. US Securities and Exchanges.
The company said it may sell shares with an aggregate offering price of up to $1 billion from time to time in one or more offerings.
MicroStrategy intends to use the net proceeds from the sale for general corporate purposes, including bitcoin buybacks, but it said it has not yet determined how much of the net proceeds will be used specifically for any any particular purpose.
“We consider our bitcoin holdings to be a long-term holding, and we do not plan to engage in regular bitcoin trading and do not hedge or enter into derivatives contracts,” the company said. related to our bitcoin holdings.”
They also discuss 2 scenarios when they might sell some of their BTC:
They can sell bitcoins in future periods if needed to generate cash for treasury management and other general corporate purposes.
In addition, if their business cannot continue to generate sufficient future cash flow from its operations to repay its debt and make the necessary capital expenditures, they may be asked to “apply one or more alternatives, such as selling bitcoin or other assets” among other alternatives.
In both cases, the company stated that it believes its BTC acquisition strategy is complementary to its software business and enterprise analytics services.
“We believe that our bitcoin and related activities supporting our brand awareness Bitcoin network can provide an opportunity to secure new customers for our analytics services. I. We are also exploring opportunities to apply bitcoin-related technologies such as blockchain analysis to the software offering,” according to the prospectus.
MicroStrategy and the huge amount of bitcoin holdings
MicroStrategy Incorporated is a company providing business information (BI), mobile software, and cloud-based services, founded in 1989 by Michael J. Saylor, Sanju Bansal and Thomas Spahr.
However, Microstrategy is one of the largest Bitcoin holders in the world. CEO Michael J. Saylor said that the company has no limits on Bitcoin purchases and has no plans for regular Bitcoin trading.
He said that Bitcoin’s potential is immense, it outperforms gold, is currently the safest despite being inflated at times and will certainly be less volatile in the future.
And with absolute loyalty to Bitcoin, Saylor has continuously planned to buy with available cash by or raise capital.
Yesterday, MicroStrategy confirmed that it raised $500 million to buy more BTC.
As of June 4, 2021, they hold approximately 92,079 BTC purchased with an aggregate purchase price of $2,251 billion and an average purchase price of approximately $24,450 per bitcoin, including fees and expenses. Today, this is worth more than $3.73 billion.
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