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MicroStrategy Applied to the SEC to Buy an Additional $500 Million Worth of Bitcoin! - Coin Bulletin
MicroStrategy company announced in an SEC filing that it will sell 5 million private shares offering a 10% return to buy more Bitcoin.
Among the largest companies, MicroStrategy, which buys the most Bitcoin, has taken a new step to increase its investment in cryptocurrencies. The company announced in its filing with the U.S. financial regulatory agency SEC that it will sell 5 million shares of special stock called 'Serie A Perpetual Strife Preferred Stock'. The company plans to buy more Bitcoin with the money raised from this sale.
These private stocks will be worth $100 and will provide investors with an annual yield of 10%. The company plans to pay these dividends quarterly, starting in June 2025. MicroStrategy has applied for these shares to be traded on the Nasdaq Global Select Market under the symbol "STRF" and, if approved, is expected to begin trading within 30 days of issuance.**
MicroStrategy had previously made a similar move and planned to sell $21 billion worth of shares. The company has managed to buy a total of 499,096 Bitcoins (BTC) to date. Purchasing these Bitcoins at an average price of $66,357, the company is among the large investors known as 'whales' in the cryptocurrency world.