Microstrategy, a software developer and also a corporate Bitcoin holder, is currently planning to sell stocks of up to $500 million to buy more Bitcoin.

Here is a sexy offer for you;

Become a member of a thriving crypto community through the information and education from experts, our Paradise Team is a group of experts with more than 6 years of experience in trading cryptocurrency.

We trade BTC, ETH and other trending altcoins in our ParadiseFamilyVIP on Binance, Kucoin, Bybit and Bitmex exchanges.

Use PRO20% for your special 20% discount before the promo expires. Click here to see reviews from happy clients.

Microstrategy to Sell Stock, Use Part of the Proceed to Purchase More BTC

A recent filing with the US Securities and Exchange Commission revealed that the software company is offering its stock which will be for “general corporate purposes, including the acquisition of bitcoin.”

Meanwhile, Microstrategy Michael Saylor stepped down as the company’s CEO to become the executive chairman of the company, the recent filing with the SEC is a strong sign that Saylor is not backing off from his quest to turn Microstrategy into a Bitcoin proxy.

Michael Saylor has purchased up to 130,000 Bitcoin worth more than $20 billion, most of the money which was raised from Microstrategy’s stock and bond offerings.

“Future fluctuations in Bitcoin trading prices may result in our converting Bitcoin purchased with the net proceeds from this offering into cash with a value substantially below the net proceeds from this offering,” said Microstrategy.

The company also revealed in the prospectus that it has no plan to enter or engage in derivative contracts with its BTC holdings but may sell Bitcoin as needed to generate cash for “treasury management and other general corporate purposes.”

“We have not targeted any specific amount of Bitcoin holdings,” said Microstrategy. “We will continue to monitor market conditions in determining whether to conduct debt or equity financings to purchase additional Bitcoin.”

However, in August, Microstrategy disclosed a non-cash digital impairment charge of $917.8 million in the 2022 Q2, the same month Michael Saylor stepped down as the company’s CEO to assume the post of executive chairman of the company.

Also, in the past few days, nearly a month after Micheal Saylor stepped down as the company’s CEO, Saylor was sued by the Washington D.C. Attorney General for tax fraud.

Currently, Cowen and BTIG are the two most prominent investment banks leading the race for the stock offering.

Join our telegram channels where we share our FREE updates and analysis on coins like BTC, ETH, and other trending altcoins. We also share our FREE secret insights. And also FREE market updates.

•  My Binance Paradise – https://t.me/MCP_binance
•  My KuCoin Paradise – https://t.me/MCP_KuCoin