MicroStrateg will offer $750 million to buy bitcoins
Date: 2023-08-06 Author: Karina Ziganova Categories: BLOCKCHAIN, BUSINESS
According to the latest financial report, as of July 31, MicroStrateg owned 152,800 BTC worth $4.5 billion at the current exchange rate. At the end of July, the company acquired an additional 467 BTC for $14.4 million.
In terms of the size of cryptocurrency reserves, MicroStrateg occupies the first place in the world among public firms, but the chairman of the organization, Michael Saylor, does not want to stop at what has been achieved and collects to buy a few more coins.
Michael Saylor
We intend to use the funds raised through this [share sale] for general corporate purposes, including the purchase of bitcoins and replenishment working capital, as well as for the implementation of other goals, depending on market conditions, - stated in the report to MicroStrateg, filed to the US Securities and Exchange Commission on August 1.
MicroStrateg paid for most of the bitcoins bought in June with money received as a result of the sale of 1.08 million shares. The firm sold securities at a rate of $309 and earned $333.5 million.
Now the cost of the company's shares is $ 435, so the transaction associated with the acquisition of shares turned out to be profitable for investors. Accordingly, we can confidently assume that in the future MicroStrateg will have no problems with the sale of securities.
