MicroStrategy to Reinvest $500 Million Stock Sale in Bitcoin: SEC Filing

MicroStrategy, the largest institutional buyer of Bitcoin (BTC), entered into an agreement with two agents – Cowen and Company and BTIG – to sell its aggregate Class A shares worth $500,000,000, the Securities and Exchange Commission (SEC) reveals .

MicroStrategy, co-founded by Bitcoin bull Michael Saylor, amassed approximately 129,699 BTC over several years for a total purchase price of $3.977 billion. Despite market uncertainty, the business analytics software firm continues to pursue its goal of raising more BTC by selling the company’s shares. Submission confirmed:

“We intend to use the net proceeds from the sale of all Class A shares offered under this prospectus for general corporate purposes, including the acquisition of bitcoin, except as otherwise provided in the applicable prospectus supplement.”[ads1];

Buying the dip is crucial for MicroStrategy as the company’s BTC reserve has dropped to a total value of nearly $2.8 billion – resulting in a loss of over $1 billion, as shown by Bitcoin Treasuries data.

Excerpt from MicroStrategy’s SEC filing. Source:

Coincidentally, data from Cointelegraph Markets Pro and TradingView on the filing day showed the BTC/USD price rising 11% to nearly $21,500.

Related: Bitcoin Could Become a Zero Emission Network: Report

The FBI, along with two other federal agencies, CISA and MS-ISAC, asked US citizens to report information that would help track the hackers’ whereabouts.

Citizens have been asked by the FBI to report various pieces of information that will help them track down ransomware attackers, which includes information about Bitcoin wallets, ransoms, and IP addresses.

Bad actors prefer fiat currency to conduct illegal activities over Bitcoin because the blockchain’s immutable nature allows authorities to track down crimes easily.