MicroStrategy files to sell $1 billion in shares to add to its vast bitcoin treasure chest
MicroStrategyfiled to sell as much as $1 billion in shares on Monday, partly to buy more bitcoin.
- Led by CEO
Michael Saylor, it already holds 92,079 bitcoins, currently valued at $3.6 billion.
- The company also said it has completed its $500 million bond sale for its bitcoin strategy.
Bitcoin bull Michael Saylor's MicroStrategy plans to sell as much as $1 billion in common shares with an eye to adding to its huge holding in the cryptocurrency, it said in a filing with the Securities and Exchange Commission.The S-3 filing for a "shelf offering" on Monday came as the business-intelligence software maker completed the sale of $500 million in high-yield senior secured notes, offered so it could buy more bitcoin.
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Shares in MicroStrategy were last trading 1% higher during Tuesday's pre-market session. Bitcoin was trading 2% higher around $40,000 as of 6:30 a.m. ET, but it is down more than 36% in the last two months.Saylor has previously said he influenced Tesla, the second-largest corporate bitcoin holder, to invest $1.5 billion in the digital currency. The MicroStrategy chief is the leading light in the recently formed Bitcoin Mining Council, a group of North American
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