Following $500 Million Sale To Buy Bitcoin, MicroStrategy Exploring A $1 Billion One

Following $500 Million Sale To Buy Bitcoin, MicroStrategy Exploring A $1 Billion One
фото показано с : bitcoinmagazine.com

2021-6-16 16:43

MicroStrategy, which holds more than 92,000 bitcoin, laid the groundwork for a potential $1 billion stock sale in order to buy more BTC.

MicroStrategy, the software intelligence firm that has acquired more than 92,000 BTC under CEO Michael Saylor, is considering offering up to $1 billion of stock to buy more bitcoin, immediately following a successful $500 million bond sale for the same purpose.

According to a prospectus filed with the U.S. Securities and Exchange Commission (SEC), MicroStrategy has entered into an agreement with investment banking company Jefferies Group to potentially offer up to $1 billion in its class A common stock and “use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin.”

While this prospectus did not indicate any firm bitcoin acquisition plans or promise that MicroStrategy would flip as much as $1 billion into BTC, it is remarkable that it laid this groundwork on the same day that the firm announced its sale of $500 million of senior secured notes due 2028 to “acquire additional bitcoin.”

Since pursuing an aggressive bitcoin accumulation strategy in August 2020, MicroStrategy has seen its revenues surge, despite fluctuations in bitcoin’s price. It boosted its latest note offering from $400 million to $500 million after reportedly receiving $1.6 billion in orders.

According to bitcointreasuries.org, MicroStrategy has by far the most BTC of any public company in the world. It has more than twice as much as Elon Musk’s electric vehicle company Tesla, which holds about 43,000 BTC.

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