The world’s largest Bitcoin holder appears to have ambitious plans

The American software company MicroStrategy has become an integral part of the Bitcoin (BTC) ecosystem. It entered the world of Bitcoin in 2020 and is by far the largest exchange-traded BTC today holder. Recently there has been another attempt to expand the total stack, but this Business Intelligence The company seems far from happy with its current Bitcoin fortune. By selling shares you want to collect up to 750 million US dollars and buy more Bitcoin in this way.

New Bitcoin plans: $750 million stock sale

in one Application In the Securities and Exchange Commission (SEC) On August 1, MicroStrategy announced that it has entered into an agreement to purchase its Class A common stock with three companies — Cowen & Company, Canaccord Genuity, and Berenberg Capital.

MicroStrategy said the proceeds from the proposed sale could be used for various general corporate purposes, such as acquiring more BTC and working capital.

In addition, a net income of 22.2 million was reported for the second quarter of the year. In the same period last year, a loss of almost 1.1 billion US dollars was recorded. The company said last quarter it had a impairments, also known as impairment, of $24.1 million. In 2022, that second-quarter book loss was still $917.8 million.

Total revenue for the quarter was $120.4 million, flat year-over-year.

Bitcoin owns MicroStrategy

In late June, Bitcoin News reported that MicroStrategy made its largest Bitcoin purchase in two years. A total of 12,333 BTC were added to the huge mountain of bitcoins. With an average BTC price of $28,136, a whopping $347 million was spent on the bulk purchase.

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In July, the listed company took a stand again extensive. With an investment of $14.4 million, it managed to acquire 467 BTC. In total, the company now owns 152,800 BTC, which is worth more than $4.5 billion at the current Bitcoin price.

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