Business intelligence firm MicroStrategy intends to buy more Bitcoins by selling up to $500 M of stock. According to an SEC filing, the company's stock offering serves general corporate purposes, including Bitcoin purchases. The company's class A shares are listed on The Nasdaq Global Select Market under the trading symbol MSTR.
In early August, MicroStrategy co-founder Michael Saylor announced leaving his position as a CEO to be an executive chairman of a tech company focused only on BTC.
MicroStrategy is a top Bitcoin investor, which brought about 130,000 coins worth over $2 B.
While MicroStrategy finds ways to increase its Bitcoin holdings, the price of the coin went up by 7.8% in the last 24 hours. Currently, Bitcoin trades at around $21,300. It's still 68% down from its all-time high of $68,700 reached in November 2021.