Microstrategy Selling up to $1 Billion of MSTR Stock to Buy Bitcoin
Microstrategy Inc. is selling up to $1 billion of its common stock, MSTR, intending to use some of the net proceeds to buy bitcoin. The Nasdaq-listed company also recently completed a $500 million secured notes offering and will use the proceeds to acquire bitcoins.
Microstrategy Inc. has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to launch an “‘at the market’ securities offering for flexibility to sell up to $1 billion of its class A common stock over time,” the company announced Monday. The company’s class A common stock is listed on the Nasdaq Global Select Market under the symbol MSTR.
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