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This Is How Much Bitcoin MicroStrategy Plans to Add to Its Holdings

Although Michael Saylor is no longer at the helm of MicroStrategy, the company is busy buying Bitcoin (BTC).

By Finst News
• 2 min read
This Is How Much Bitcoin MicroStrategy Plans to Add to Its Holdings

Although Michael Saylor is no longer at the helm of MicroStrategy, the company is busy buying Bitcoin (BTC). It aims to invest up to 500 million US dollars (USD) into the digital gold.

129,699 BTC isn’t enough. So MicroStrategy plans to add up to 500 million USD of Bitcoin to its holdings. The capital will come from selling additional shares worth 500 million USD.

In addition to buying Bitcoin, the fresh funds will also go toward "general corporate purposes," the company said in the relevant SEC filing. MicroStrategy appears to own the most Bitcoin among publicly traded companies. Its 129,699 BTC are currently worth about $2.8 billion value. The move has been well received by investors. MSTR rose about 11 percent in premarket trading.

Since early August this year, Permabull Michael Saylor is no longer at the helm of the company, but Phong Le, who previously served as the company's president, has taken over.

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