Last Updated on October 1, 2022 by Bitfinsider
MicroStrategy Still Continues to buy BTC
MicroStrategy recently announced plans to sell approximately $500 million in stock. Right now, the price of the company stock is falling, which means that whatever money the company gets for the shares could have been significantly higher even at the start of the year, so MicroStrategy is forced to take some significant losses at the time of sale.
MicroStrategy has accumulated mountains of debt in recent months, and Michael Saylor appears to have been forced to step down from his 30-year position as CEO to serve as the company’s new executive chairman.
Well, it appears that the company hasn’t learned its lesson, as the proceeds from the stock sale will be used to purchase more bitcoin. Is there anyone on the MicroStrategy team who is aware of what’s going on in the crypto space? D
MicroStrategy appears to have fallen into a pattern of taking big risks and not knowing when to stop.
The Washington, D.C. attorney general’s office is currently suing Saylor and MicroStrategy for alleged tax evasion.
Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.
