MicroStrategy, the largest publicly listed Bitcoin holding company in the world, plans to double down on its BTC purchases using proceeds from a $500 million sale of its stock.
According to a Friday filing with the U.S. Securities and Exchange Commission, Microstrategy contracted two global investment firms, BTIG and Cowen, as agents to help it sell its company shares for an aggregate price of up to $500 million. The filing further stated that in addition to the proceeds being used for “general corporate purposes,” MicroStrategy would allocate part of the money to purchasing more Bitcoin.
The latest filing comes less than two months since Michael Saylor stepped down as Microstrategy’s CEO. At the time, he had disclosed that he would be focussing more on the firm’s Bitcoin acquisition strategy and related advocacy initiatives. Since it started acquiring crypto in 2020 using money raised from stock and bond offerings, the Virginia Based business intelligence firm has accumulated more...
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