MicroStrategy Sells Stocks to Buy Bitcoin

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Crypto company MicroStrategy, the largest crypto investor holding a huge amount of bitcoin, wants to sell its Class A shares worth $500 million to Cowen and Company and BTIG.

MicroStrategy wants to buy even more bitcoins

According to documentsent by the company to the Securities and Exchange Commission (SEC), MicroStrategy can use the proceeds from the sale of shares to buy even more bitcoins.

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You can also learn from the document that the company is not going to trade the cryptocurrency acquired in the future or buy any derivatives. She plans to simply add more bitcoins to her account and keep them until better times.

But we should not exclude the possibility that MicroStrategy may sell part of the assets if it suddenly needs liquidity.

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MicroStrategy does not have a goal of acquiring any specific amount of bitcoins. The company will monitor the crypto markets and, based on the movement of assets, determine how much digital currency is worth buying in a given situation.

The head of MicroStrategy is accused of non-payment of taxes

News recently broke that the District of Columbia Attorney General was suing MicroStrategy CEO Michael Saylor for $25 million in tax evasion and the company for complicity in the crime by misrepresenting Saylor’s whereabouts.

Sailor is officially registered in the state of Florida, which he continues to state, denying all charges. However, according to the authorities, he actually lives in the District of Columbia and, therefore, must pay taxes there.

MicroStrategy is going to sell bitcoins?

Meanwhile, crypto influencer CryptoVinco tweeted September 5 that the cryptokit, which owns more than 200,000 bitcoins, transferred all its assets to exchanges.

According to CryptoVinco, he is 99% sure that this whale is Michael Saylor.

The community is skeptical of the cryptanalyst’s claims, as Sailor has repeatedly vowed not to sell his bitcoin holdings.

In addition, the cryptokit that CryptoVinco claims has more bitcoins than MicroStrategy, as far as we know, has.

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Source: Cryptocurrency

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