EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

Microstrategy Files to Sell Stock to Raise Cash to Purchase Bitcoin

Admin by Admin
September 13, 2022
in Crypto News
0
Microstrategy buys bitcoin stock down
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
MMC MMC

Microstrategy (MSTR) stock closed higher on Monday as news broke that the company is set to raise more cash. The cash will be used to fund additional purchases of Bitcoin and add to its already significant holdings.

MSTR stock closed up 0.39% on Monday in what was an underperformance versus the broader market. MSTR stock also underperformed the crypto space, which has been boosted by the resurgence in the price of Bitcoin.

According to reports, Microstrategy will raise cash for working capital purposes but also to purchase more Bitcoin.

“We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of Bitcoin,” the company said.

Microstrategy is a leveraged bet on Bitcoin, and the company has used this strategy previously to acquire large holdings of the digital asset.

The latest reports estimate Microstrategy holds nearly 130,000 BTC and the average purchase price is reported to be approximately $30,700 per coin. Microstrategy took an impairment charge of $1.09 billion when it announced its latest results on August 2.

Source- FxStreet 

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: BitcoinStock
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

Near Foundation Launches New $100m Web3.0 Fund

Next Post

GBP/USD slumps to 1.1600 Area [Technical Overview]

Admin

Admin

Next Post
GBP USD pair

GBP/USD slumps to 1.1600 Area [Technical Overview]

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
Virtual stadium in the metaverse

Why Virtual Stadium Can Be the Next Big Thing in the Metaverse

January 26, 2023
USDD Depegs

USDD Stablecoin Depegs To $0.96, Tron (TRX) Dumped

December 12, 2022
What is Initial Coin Offering?

Initial Coin Offering (ICO)

0
What is staking?

Staking

0
What is Defi?

Defi (Decentralized Finance)

0
Differences between Axie Infinity and Decentraland

Axie Infinity and Decentraland: Features and Differences

0
AUD USD pair

AUD/USD falls from 7-month highs

February 2, 2023
What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023
FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

February 1, 2023
Tesla Lost Millions In Crypto

Tesla Lost Millions In Crypto

February 1, 2023

Recent News

AUD USD pair

AUD/USD falls from 7-month highs

February 2, 2023
What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023
FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

February 1, 2023
Tesla Lost Millions In Crypto

Tesla Lost Millions In Crypto

February 1, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Forex News
  • Gaming
  • Reviews
  • Stocks

Recent News

AUD USD pair

AUD/USD falls from 7-month highs

February 2, 2023
What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>