MicroStrategy Will Sell Stock in Order to Purchase More Bitcoin

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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.

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