MicroStrategy Plans to Sell Class A Stock for $2 Billion to Purchase Additional Bitcoin
Publication Time:2024-08-04 16:16:06
Tech giant MicroStrategy announced a new fundraising strategy, planning to sell its Class A stock to raise up to $2 billion. These funds will be used to buy more Bitcoin and for the company's day-to-day operations. Although MicroStrategy did not disclose a specific timetable for the stock sale or the exact amount of revenue intended to directly purchase Bitcoin in its filing with the US Securities and Exchange Commission (SEC), this action indicates the company's ongoing interest and investment in the cryptocurrency market. This move follows MicroStrategy's announcement in June that it would issue $500 million in unsecured senior convertible notes to increase its Bitcoin holdings, followed by an increase to $700 million.
Bitcoin
MicroStrategy
Stock Sale