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SEC Document: MicroStrategy to Sell $500 Million in Stock and Buy Bitcoin

 


MicroStrategy is the largest institutional holder of Bitcoin ( BTC ) and has now agreed with two agents, Cowen and Company and BTIG, to sell $500 million of Class A common stock, according to a U.S. securities regulator SEC is called.


Co- founded by Bitcoin bull Michael Saylor , MicroStrategy has bought a total of about 129,699 BTC for $3.977 billion over several years. Despite the market uncertainty, the business analytics software company plans to continue selling company stock to acquire more BTC. The document states:


"We intend to use the net proceeds from the sale of Class A common stock offered pursuant to this prospectus for general corporate purposes, including the acquisition of bitcoin, except as otherwise disclosed in the relevant prospectus supplement."

Buying dips is very important for MicroStrategy as the company’s BTC reserves have fallen to nearly $2.8 billion. That's a loss of over $1 billion, data from Bitcoin Treasuries shows .

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