MicroStrategy says it may sell up to $1B in stock
The same day business intelligence firm MicroStrategy announced it would use $488 million from the proceeds of a private offering sale to buy Bitcoin, the company said it may also sell up to $1 billion of its stock for the same reason. In a Monday S-3 filing for the U.S. Securities and Exchange Commission, MicroStrategy said it would be launching an “at the market” securities offering which would allow it to sell up to $1 billion of its Class A Common stock over time. The firm said it intended to use the proceeds from the offering “for general corporate purposes, including the acquisition of Bitcoin.”
“Bitcoin does not pay interest or other returns and so ability to generate a return on investment from the net proceeds from this offering will depend on whether there is appreciation in the value of Bitcoin following our purchases of Bitcoin with the net proceeds from this offering,” said the filing. “Future fluctuations in Bitcoin trading prices may result in our converting Bitcoin purchased with the net proceeds from this offering into cash with a value substantially below the net proceeds from this offering.”
According to the SEC filing, MicroStrategy held 92,079 Bitcoin (BTC) — roughly $3.7 billion at the time of publication — as of June 4, with the company saying today it intended to purchase an additional $488 million in the cryptocurrency. The filing shows MicroStrategy purchased its existing holdings at an average BTC price of $24,450, meaning that the company has seen the value of its crypto increase by almost $1.5 billion.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 67.2% | 61 | $27 840.71 | 1.21% | -0.56% | $538 129 695 575 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 73.2% | 45 | $1 767.58 | 1.19% | -2.66% | $216 305 397 091 |  |
|
| 3 |  USDT |
Tether predictions | 91.2% | 1 | $1.000675 | -0.02% | -0.22% | $79 075 659 998 |  |
|
| 4 |  BNB |
Binance Coin predictions | 69.6% | 55 | $327.63 | 1.31% | -3.17% | $51 729 397 468 |  |
|
| 5 |  USDC |
USD Coin predictions | 92.8% | 2 | $0.999850 | 0% | -0.01% | $33 908 036 023 |  |
|
| 6 |  XRP |
XRP predictions | 83.2% | 31 | $0.448514 | -2.25% | 14.10% | $22 852 174 189 |  |
|
| 7 |  HEX |
HEX predictions | 60.4% | 82 | $0.083472 | -7.12% | -4.02% | $14 474 941 650 |  |
|
| 8 |  ADA |
Cardano predictions | 75.6% | 39 | $0.355402 | -0.43% | 1.86% | $12 343 469 988 |  |
|
| 9 |  STETH |
Lido stETH predictions | 96% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 10 |  MATIC |
Polygon predictions | 78% | 45 | $1.096341 | 0.35% | -8.87% | $9 955 292 481 |  |
|
| 11 |  DOGE |
Dogecoin predictions | 74.4% | 42 | $0.074572 | -0.20% | -1.62% | $9 893 472 420 |  |
|
| 12 |  BUSD |
Binance USD predictions | 93.2% | 1 | $0.999729 | -0.01% | -0.10% | $8 022 170 532 |  |
|
| 13 |  SOL |
Solana predictions | 76% | 46 | $20.85 | 0.67% | -5.99% | $8 004 990 448 |  |
|
| 14 |  DOT |
Polkadot predictions | 75.6% | 39 | $6.03 | 0.57% | -7.80% | $7 053 783 531 |  |
|
| 15 |  LTC |
Litecoin predictions | 70.8% | 57 | $93.16 | 0.89% | 9.35% | $6 760 087 916 |  |
