Microstrategy is Planning to Raise Another Billion Dollars Through Stock Sale to Buy Bitcoin

Microstrategy is Planning to Raise Another Billion Dollars through Stock Sale to Buy Bitcoin

Microstrategy the company led by CEO Michael Saylor may raise another round of $1 Billion to buy bitcoin. The company filed paperwork with the SEC for selling Class A stocks through an open market sale. The company would be able to sell Class A common shares depending on the need from time to time if the paperwork is approved.

The CEO of the company, Michael Saylor also tweeted the link to the blogpost by Microstrategy. The blogpost says that the company intends to use the proceeds from the sale for corporate purposes, like the buying of bitcoin. While the company has not specifically said that they will buy bitcoin, however, this is definitely what they will do. 

Microstrategy’s Love for Bitcoin

Microstrategy holds more than $3.7 billion worth of bitcoin on their balance sheets. Which is most of its liquid position. The company has been systematically increasing its stake, in the last month the company had raised $1.5 billion through Junk Bond Sale.  

The company’s bitcoin portfolio was once valued at more than $4.5 billion. The company has been one of the first in the business that invested heavily in bitcoin. The CEO of the company Michael Saylor is a long time crypto enthusiast. 

The company has seen an insane return on its initial bitcoin investment and has pivoted to crypto. The company has taken insane amounts of debt to fund their bitcoin purchase. The bet however has paid off immensely and the company now holds the biggest bitcoin fortune

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