MicroStrategy eyes $750M stock sale, likely to buy more bitcoin
MicroStategy claimed in December that it would sell its bitcoin before offloading more shares. Since then, it's sold $339 million in shares.
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MicroStategy claimed in December that it would sell its bitcoin before offloading more shares. Since then, it's sold $339 million in shares.
Read more (2 min) →MicroStrategy says revenues from its analytics business may not be enough to pay its debts and it may have to sell its bitcoin or more shares.
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According to BlockchainCentre.net, MicroStrategy’s 130,000 bitcoins are worth $2.7B — impressive if it hadn’t spent $4B on acquiring them.
MicroStrategy is at least 23% down on its bitcoin holdings but says it will be selling up to $500 million worth of its stock to buy more.
Last year, Morgan Stanley began buying up Grayscale Bitcoin Trust, at one point owning as much as 13 million GBTC shares.
The Attorney General of Washington DC is suing Bitcoin evangelist and MicroStrategy Chairman Michael Saylor, alleging tax fraud.
Is bitcoin a rich man's casino? Comparing price action with moves by major players seems to confirm they can indeed shift the bitcoin market.
The company has spent nearly $4 billion on 130,000 bitcoins in the past two years at an average purchase price of more than $30,700.