The largest corporate bitcoin holder has filed a new filing with the US Securities and Exchange Commission that will essentially allow it to purchase more BTC for up to $500 million.
The news comes as the cryptocurrency surged past the $20,000 level and jumped to a new two-week high.
- The filing with the securities regulator shows that MicroStrategy plans to sell up to $500 million worth of its stock for “general corporate purposes, including the acquisition of bitcoin.”
- Interestingly, the market reacted quite positively to this filing, with MSTR price surging by more than 10% on Friday to over $260 per piece.
- Bitcoin’s price has also seen an uptick in the past few days. The asset had tumbled to a 6-week low at $18,500 during the week but reclaimed the $20,000 early on Friday.
- The start of the weekend brought even more positivity to the bulls as BTC jumped to a two-week high above $21,500, perhaps fueled by MicroStrategy’s plans.
- Looking from the company’s perspective, this filing comes at a compelling time. As usual, there were rumors that the firm had begun disposing of its bitcoins (and, as usual, wrong ones) after Michael Saylor stepped down as CEO.
- Once that happened, MicroStrategy reassured that it will continue accumulating BTC but is yet to do so officially.
- The last company purchase came at the end of June – worth $10 million. It’s also worth noting that the business intelligence software giant sits on a massive unrealized loss on its bitcoin holdings.
SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.
- AA News
- Bitcoin
- Bitcoin (BTC) Price
- blockchain
- blockchain compliance
- blockchain conference
- BTCEUR
- BTCGBP
- BTCUSD
- BTCUSDT
- coinbase
- coingenius
- Consensus
- crypto conference
- crypto mining
- Crypto News
- cryptocurrency
- CryptoPotato
- decentralized
- DeFi
- Digital Assets
- ethereum
- machine learning
- Michael Saylor
- MicroStrategy
- non fungible token
- plato
- plato ai
- Plato Data Intelligence
- Platoblockchain
- PlatoData
- platogaming
- Polygon
- proof of stake
- Social
- W3
- zephyrnet
More from CryptoPotato
Another BSC Project Exploit: $7.2M Drained From BurgerSwap in a Flash Loan Attack
Source Node: 885765
Time Stamp: May 28, 2021
Revolut Valued at $33B After a Fundraising Led by SoftBank And Tiger Capital
Source Node: 983510
Time Stamp: Jul 17, 2021
USA Is the Most Crypto-Ready Country, According to a Recent Research
Source Node: 958136
Time Stamp: Jul 3, 2021
This is The Next Key Resistance for BTC: Bitcoin Price Analysis
Source Node: 1142463
Time Stamp: Jan 16, 2022
XRP Poised to Surpass BTC, ETH, and ADA as the Leading Payment Cryptocurrency
Source Node: 2213920
Time Stamp: Aug 15, 2023
Terraform Labs Founder Do Kwon Seeks Dismissal of SEC’s Interrogation Request
Source Node: 2296894
Time Stamp: Sep 28, 2023
Battle Showdown: Gambit Introduces Innovative SkillFi Ecosystem, Redefining Gaming in the Blockchain Space
Source Node: 2532465
Time Stamp: Apr 2, 2024
Will New Tokens be Airdropped to ETH Holders After Ethereum’s Hard Fork?
Source Node: 1619237
Time Stamp: Aug 12, 2022
Hollywood Actor Matt Damon Explains Why he Appeared on Crypto.com Ad
Source Node: 2038395
Time Stamp: Mar 29, 2023
Bitcoin Maintains $44K, Avalanche (AVAX) Soars 10% Eyeing $100 (Market Watch)
Source Node: 1175935
Time Stamp: Feb 16, 2022