MicroStrategy eyes $750M stock sale, likely to buy more bitcoin
Since stating just a few months ago that, if it found itself in financial difficulty, it would sell its bitcoin before offloading more shares, Michael Saylor ’s MicroStrategy has sold somewhere in the region of $339 million in shares and plans to sell up to $750 million more in the coming months, likely to buy bitcoin . Saylor made the promise in an interview with George Gammon at the end of last year, citing the responsibility it had to protect its investors. According to its Q1 earnings report, MicroStrategy was running short on cash with revenues dwindling. However, it claimed to have enough funds to survive for the next 12 months with $94 million in its war chest, $2.1 billion in debt, and 140,000 bitcoin. MicroStrategy hints at bitcoin bag dump while offloading shares Read more: Saylor bets the bitcoin bottom as MicroStrategy shorts subside At press time, the company now has 152,800 bitcoins acquired for a total of $4.53 billion , or $29,672 per bitcoin. These coins are ...