biggest Bitcoin $99,231.3 (BTC) whales, Michael Saylor’s company, has taken a new step. The company is planning more purchases as the painful volatility in Bitcoin price continues. Of course, the most important issue here is the cash generation part and the step taken is exactly about this. Here is the detail of the latest development for cryptocurrencies.
MicroStrategy and Bitcoin
The Company announced today that it plans to offer 2,500,000 shares of MicroStrategy’s Series A Perpetual Strike Preferred Stock. MicroStrategy intends to use the net proceeds from the offering for general corporate purposes, including the purchase of bitcoin and working capital. Barclays, Moelis & Company LLC, BTIG, TD Cowen and Keefe, Bruyette & Woods, A Stifel Company will act as joint book building managers for the supply.
Company for 3 years Bitcoin It announced that it would make a purchase and aims to increase its total supply to 1 million. This means that a significant amount of supply will remain off the market for 3 years and will also be withdrawn from the stock markets.
With demand in the ETF channel MicroStrategy Players like these will help increase the price in the long run while making the BTC supply scarce for individual investors.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
