Microstrategy To Buy More Bitcoin!

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MicroStrategy (MSTR) plans to sell up to $500 million of stock to fund more purchases of Bitcoin.

In a prospectus filed with the SEC on Friday, MicroStrategy has entered an agreement with investment bank Cowen & Co. to sell up to $500m in shares of its Class A common stock.

"We may use the net proceeds from this offering to purchase additional Bitcoin," the company said in the filing.

The Company said, "Future fluctuations in Bitcoin trading prices may result in our converting Bitcoin purchased with the net proceeds from this offering into cash with a value substantially below the net proceeds from this offering,"