To Acquire Even More Bitcoin, MicroStrategy will Now Sell up to $1 Billion of its Shares

Gold Store of ValueTo Acquire Even More Bitcoin, MicroStrategy will Now Sell up to $1 Billion of its SharesMicroStrategy Inc. has filed a “shelf” registration with the U.S. Securities and Exchange Commission (SEC) to sell up to $1 billion in common shares for general purposes.These funds will be used to purchase more Bitcoin. The filing reads,“We intend to use the net proceeds from the sale of any class A common stock offered under this prospectus for general corporate purposes, including the acquisition of bitcoin.”Just this week, MicroStrategy completed a $500 million offering of 6.125% Senior Secured Notes due 2028. The company will be using the funds to buy BTC.As of now, the company has a stash of 92,079 BTC, representing nearly 0.5% of Bitcoin’s circulating supply, which is held by a newly formed subsidiary of MicroStrategy, MacroStrategy.MicroStrategy’s shares are currently trading at $546, down from Monday’s high of just above $600. MSTR’s share price is still down 58.5% from its all-time high of $1,315 in early February.AnTyAnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

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