header banner

Michael Saylor, a Bitcoin whale, may purchase many more bitcoins

Table of Contents


    MicroStrategy, the software developer that’s amassed a giant bitcoin (BTC) stash in recent years, may raise up to $750 million by selling more stock and plans to use the proceeds to buy more bitcoin, among other things.

    The announcement was made in a U.S. Securities and Exchange Commission filing late Tuesday. Bitcoin’s price rose noticeably in the aftermath, approaching $29,800 from around $29,200.


    Chairman Michael Saylor has gotten MicroStrategy heavily involved with bitcoin, buying billions of dollars worth since the pandemic. And he’s raised money to do so the old-fashioned way: selling more of the publicly traded company’s equity and bonds. This adds to that strategy.

    The company owned 152,800 bitcoin as of July 31, which are now worth about $4.5 billion.

    “We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and working capital, and, subject to market conditions,” already issued bonds, according to MicroStrategy’s Tuesday filing.

    UPDATE (Aug. 2, 2023, 00:21 UTC): Updates BTC's price.


    Article information

    Author: Rhonda Thomas

    Last Updated: 1698730922

    Views: 1090

    Rating: 4.2 / 5 (107 voted)

    Reviews: 84% of readers found this page helpful

    Author information

    Name: Rhonda Thomas

    Birthday: 1989-02-25

    Address: 13817 Angela Stravenue Suite 415, Port Davidside, ND 99268

    Phone: +4822627369425632

    Job: Film Director

    Hobby: Origami, Arduino, Sewing, Dancing, Raspberry Pi, Poker, Graphic Design

    Introduction: My name is Rhonda Thomas, I am a dear, unguarded, unswerving, venturesome, valuable, risk-taking, dazzling person who loves writing and wants to share my knowledge and understanding with you.