MicroStrategy issues up to $ 1 billion in common stock to buy more bitcoin
MicroStrategy is back. Freshly baked The leading business analyst firm sold $ 500 million worth of private placement notes in its securities offering this week and is looking for more.
MicroStrategy is quickly approaching 100,000 BTC at the company’s Bitcoin holding subsidiary, MacroStrategy LLC. The company’s recent issuance of common stock suggests it may hope to cross the 100,000-share threshold as soon as possible.
Documents submitted to the United States Securities and Exchange Commission this week Over time, MicroStrategy will be able to sell Class A MSTR common stock valued at up to $ 1 billion; in the US Securities and Exchange Commission prospectus, the company stated that it “intends to use all of the Class A shares provided in this prospectus. The net proceeds from the sale of common shares are used for general corporate purposes, including the acquisition of Bitcoin, unless otherwise specified in the applicable prospectus supplement.
Of course, the newly created affiliate accounts have over 92K BTC, even thanks to the recent bond issue, MicroStrategy may already cross the 100K mark. Based on current prices, the company can use the funds raised through the sale of high-level secure tickets to get over 10,000 bitcoins, making the listing of the common stock just to add to MacroStrategy BTC’s holdings. Even in terms of the company’s current numbers, in terms of holding BTC, they are definitely the leaders in the business, and their BTC on hand is more than double that of Tesla.
Related reading | MicroStrategy Unveils $ 15 Million Bitcoin Purchase Transaction
More from the file
The SEC documents shared some of the company’s macro views: “We treat our Bitcoin holdings like long-term holdings. We do not intend to conduct regular Bitcoin transactions, nor do we have any hedging or signing of derivative contracts in any other way to hold us. Bitcoin, although we may sell Bitcoin as needed in the future to generate liquidity for fund management and other general business purposes.
Additionally, the company said in the paper that it is “exploring opportunities to apply blockchain analysis and other Bitcoin-related technologies to our software products.” Until now, the company viewed its business as a two-part business, namely growing its business analytics software business and acquiring and holding Bitcoin.
MicroStrategy stock has responded positively to recent funding, and company sentiment is focused on buying more bitcoin. Analyst Rack Davis joked on Twitter saying he was surprised there was still furniture in MicroStrategy’s office – “You can sell anything and buy Bitcoin!” He said. MicroStrategy CEO Michael Saylor responded to this tweet with emojis of impatience and thought.
Despite a wild ride this year for MicroStrategy $MSTR, the recent SEC filings seem to have resulted in positive investor feedback.| Source: $MSTR-NASDAQ on TradingView.com
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