MicroStrategy to sell $1B worth of stock to buy Bitcoin (BTC)

MicroStrategy, in its latest move signaling support for bitcoin, will sell up to $1 billion of its stock to buy the asset. The company published the relevant SEC form on June 14. CEO Michel Saylor, now one of bitcoin’s strongest proponents, also revealed the development on Twitter.

MicroStrategy has been consistently doubling down on its bitcoin bet, having made a considerable return on investment on its bitcoin purchases with the bull run in the first few months of 2021. Clearly, the company and its leading figure are betting on bitcoin to grow moving forward.

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