MicroStrategy plans to sell its shares to accumulate Bitcoin (BTC)
Software publisher MicroStrategy intends to sell $ 1 billion worth of shares of his company. As of this writing, a MicroStrategy (MSTR) stock is trading at a price of $ 598 on the US stock exchange. The company therefore wishes to sell more than 1.6 million of its shares. The sale will be spread over time.
In a press release published on June 14, 2021, MicroStrategy ensures that the profits generated by the sale of its shares can be used for invest again in Bitcoin :
“We intend to use the net proceeds from the sale of any shares […] for general business purposes, including the acquisition of Bitcoin. We have not yet determined the net amount to be used specifically for a
specific reason ” MicroStrategy says in the release.
👉 To read on the same subject: the company MicroStrategy now pays its board of directors in Bitcoin (BTC)
MicroStrategy holds over 92,000 bitcoins
Under the leadership of its CEO Michael Saylor, MicroStrategy continues to accumulate Bitcoin at a frenetic pace. Recently, the company announced plans to inject an additional $ 500 million into the mother of cryptocurrencies.
A few months earlier, the firm had invested several million dollars in quick succession in Bitcoin. Thanks to these repeated purchases, MicroStrategy now owns over 92,000 bitcoins, as shown in the company’s balance sheet. The American firm is sitting on a war chest of more than 3.6 billion dollars in cryptocurrency.
Convinced that cryptocurrencies have a future, MicroStrategy does not intend to stop there. In its press release, the software publisher undertakes to “Carry out debt or equity financing to buy bitcoins”. We can therefore expect more similar announcements from Michael Saylor’s company in the years to come.
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