MicroStrategy is one of the largest institutional investors in Bitcoin. The chairman of the software developer company, Michael Saylor, is a Bitcoin maximalist and has vowed not to sell the company’s Bitcoin holdings despite the notable decline in Bitcoin prices. Bitcoin has lost around two-thirds of its value since reaching an all-time high in November last year.
MicroStrategy files for an up to $500M stock offering
On Friday, MicroStrategy made a filing with the US Securities and Exchange Commission (SEC). In the filing, MicroStrategy revealed plans to sell up to $500 million of stock to support its cryptocurrency purchases.
In the filing, MicroStrategy reveals that the stock offering would be used for “general corporate purposes, including the acquisition of Bitcoin.” The filing is a positive sign for the Bitcoin community that MicroStrategy is not giving up on its Bitcoin acquisition strategy.
Saylor stepped down as CEO a few months ago, and he now serves as the executive...
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