MicroStrategy to raise $1 billion for Bitcoin acquisition

A photo of MicroStrategy’s office
MicroStrategy office

Founded in 1989 by Michael J. Saylor, Sanju Bansal, and Thomas Spahr, MicroStrategy Incorporated is an American company that provides business intelligence, mobile software, and cloud-based services to organizations in order to aid the development of software that carry out internal and external data for building mobile apps.

The company had filed an S-3 for the U.S Securities and Exchange Commission which stated that the company would be kickstarting a securities offering that would enable it to sell its Class A Common stock to the tune of $1 billion.

MicroStrategy also stated that the net profit realized from the sale of its Class A Common stock will be used to purchase flagship cryptocurrency, Bitcoin. The company however didn’t disclose how many units of Bitcoin they are looking to purchase.

One of the Co-founders of MicroStrategy, Micheal Saylor, warned that investors should tread with caution because the company could be subject to scrutiny by regulatory bodies due to its Bitcoin acquisition.

MicroStrategy is said to have raised over $900 million so far with its shares surging by 16%.

--

--

--

Business Stance is dedicated to ensuring that every Nigerian comfortably stays one step ahead with an in-depth view of the global financial markets.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Let's talk about DEX!

Understanding the Role of Cryptocurrency in a Traditional Portfolio

A quick look at the CropBytes Trading Exchange

PARTNERSHIP ANNOUNCEMENT WITH THE MOON

5table Roadmap

The Concept of Data Credit Will Become the Next Hot Topic

RACY FREQUENTLY ASKED QUESTIONS

Why Are There So Many Cryptocurrency Scams?

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Business Stance

Business Stance

Business Stance is dedicated to ensuring that every Nigerian comfortably stays one step ahead with an in-depth view of the global financial markets.

More from Medium

Bitcoin A Visual History - Should you buy at the ‘top’?

DeFi make no sense. Here’s why.

Vitalik Buterin Puts Forward EIP-4488

How to Solve the Bitcoin Energy Problem