MicroStrategy, the largest institutional buyer of Bitcoin (BTC), has reached an agreement with two agents – Cowen and Company and BTIG – to sell its aggregate Class A common stock worth $500,000,000, the filing reveals. the Securities and Exchange Commission (SEC).
MicroStrategy, co-founded by Bitcoin bull Michael Saylor, has amassed around 129,699 BTC over several years at a total purchase price of $3.977 billion. Despite market uncertainties, the trading analytics software company continues to pursue its goal of acquiring more BTC by selling shares of the company. The record confirms:
“We intend to use the net proceeds from the sale of any Class A common stock offered under this Prospectus for general corporate purposes, including the acquisition of bitcoin, unless otherwise specified in the supplement. applicable prospectus.”
Buying the dip is critical for MicroStrategy as the company’s BTC reserve has fallen to an aggregate value of nearly $2.8 billion, resulting in a loss of over $1 billion, as data from Bitcoin Treasuries shows this.
Coincidentally, on the day of filing, data from Cointelegraph Markets Pro and TradingView showed that the BTC/USD price rose 11% to near $21,500.
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The FBI, along with two other federal agencies, CISA and MS-ISAC, have asked US citizens to report information to track the whereabouts of hackers.
The FBI asked citizens to report various information that would help them track down ransomware attackers, including Bitcoin wallet information, ransom notes, and IP addresses.
Bad actors prefer fiat currency to conduct illicit activities over Bitcoin, as the immutable nature of the blockchain makes it easy for authorities to track down crimes.