MicroStrategy Announces $1B Stock Offering With Plans To Buy More Bitcoin With Proceeds
- Date: 16-Jun-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
MicroStrategy Announces $1B Stock Offering With Plans To Buy More Bitcoin With Proceeds
What Happened: Shares of business intelligence firm MicroStrategy Incorporated (NASDAQ: MSTR) surged over 15% on Monday after the company said it would sell $1 billion worth of its shares over time.
According to an SEC filing, the company plans to use some of the proceeds from the sale of its Class A common stock to acquire even more Bitcoin (CRYPTO: BTC).
However, the filing stated that MicroStrategy was yet to determine the amount of net proceeds to be used specifically for any particular purpose.
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