The good news comes from MicroStrategy - Thanks Michael Saylor

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MicroStrategy has revealed plans to sell its Class A frequent stock for up to $1 billion, with a element of the proceeds doubtlessly used to make further bitcoin purchases.

MicroStrategy Want More Bitcoin?
In a file filed with the US Securities and Exchange Commission on Monday, MicroStrategy stated it will launch a market offering, which will allow the enterprise to promote its Class A common inventory for $1 billion over time.

The following is an excerpt from the report filed with the SEC:

We intend to use the net proceeds from the sale of any Class A common stock supplied below this prospectus for usual company purposes, including the acquisition of bitcoin, unless in any other case distinct in the applicable prospectus appendix.

We do now not specify the amount of internet proceeds to be used mainly for any precise purpose.

The new information comes hours after MicroStrategy completed the presenting of the precedence secured bond, via which MicroStrategy raised $500 million, with the agency saying that the money will be directed in the direction of more bitcoin purchases.

According to MicroStrategy, bitcoins were obtained at an common rate with the agency pronouncing there are plans to purchase more.

MicroStrategy beforehand introduced the formation of a new subsidiary known as “MacroStrategy LLC” which will personal all of the bitcoins.

“Micro-Strategy” of the holders of Bitcoin:
Michael Saylor, CEO of MicroStrategy, is a popular Bitcoin supporter.

He until now revealed that he has been obtaining bitcoin considering the fact that June 2020 after discovering that proudly owning shares in major tech agencies has turn out to be futile.

While MicroStrategy made its first bitcoin buy ultimate August, it has for the reason that been working to enlarge the amount of bitcoin in its own wallet.

According to the SEC filing, the enterprise has no plans to habits bitcoin trading however will preserve the asset for the long-term. MicroStrategy's announcement reads:

We view our Bitcoin holdings as long-term holdings, do not format to have interaction in regular Bitcoin trading and have not hedged or entered into spinoff contracts in connection with our Bitcoin holdings, although we may also sell Bitcoin in future periods as wanted to generate Cash for treasury administration and for other commonplace corporate purposes.

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That’s the problem with Bitcoin, once you catch the bug you want to go all in and god help you if you have access to the funds to do so....the interesting thing is that Bitcoin has been in existence for 11 years, but Mircostrategy is only loading up at these prices, I bet there will other microstrategies that will come out and start loading up when Bitcoin hits 100k

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The important thing here is that when the total supply of bitcoin runs out, there will be a real struggle in prices as everyone will want to get their hands on bitcoin, and the price will eventually be 100K or 1 million, who knows?

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