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MicroStrategy says it may sell up to $1B in stock


15 Jun 2021

#Bitcoin

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.


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# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 60% 87 $28 953.50 -4.17% -3.67% $551 514 958 969 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 61.6% 88 $1 929.37 -6.11% -6.26% $233 271 604 070 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.6% 1 $0.999062 0% 0.01% $73 206 337 226 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000165 0.02% 0.01% $53 264 489 963 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 58% 88 $316.54 -3.99% 4.58% $51 683 254 368 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 58.4% 91 $0.397236 -6.29% -7.17% $19 203 606 558 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 91.6% 1 $1.000278 0.11% 0.03% $18 328 809 687 BUSD 7 days price change
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13 TRON (TRX) TRX TRON predictions 73.2% 56 $0.079994 5.25% 13.91% $7 570 190 446 TRX 7 days price change
14 Avalanche (AVAX) AVAX Avalanche predictions 55.6% 93 $27.44 -12.43% -18.78% $7 390 659 271 AVAX 7 days price change
15 Dai (DAI) DAI Dai predictions 93.2% 1 $0.999659 -0.06% -0.01% $6 569 292 513 DAI 7 days price change

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