MicroStrategy has made another bold move to bolster its Bitcoin Treasury and move past the 500,ooo BTC mark. The firm, now known as Strategy, has filed with the US Securities and Exchange Commission (SEC) to offer more shares worth $500 million, with the proceeds going to more Bitcoin acquisitions.
MicroStrategy To Raise $500 Million To Buy More Bitcoin
In an SEC filing, Microstrategy revealed plans to raise $500 million to buy more Bitcoin. The company, now known as Strategy, plans to offer 5 million shares of its 10.00% Series A Perpetual Strife Preferred Stock. The perpetual strife preferred stock has a stated amount of $100 per share, which amounts to $500 million.
The company mentioned that it intends to use the net proceeds from this stock offering for general corporate purposes, including the acquisition and working capital.
The post Breaking: MicroStrategy To Raise Another $500 Million To Buy More Bitcoin appeared first on CoinGape.
