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MicroStrategy to Sell Up to $1B in Stock, Use Part of Proceeds to Buy Yet More Bitcoin

The company plans to sell up to $1 billion in stock to buy even more.

By James Rubin
AccessTimeIconJun 14, 2021 at 11:02 p.m. UTC
Updated Feb 9, 2023 at 1:22 p.m. UTC
MicroStrategy Executive Director Michael Saylor speaks at the Bitcoin 2021 Convention (Joe Raedle/Getty Images)
MicroStrategy Executive Director Michael Saylor speaks at the Bitcoin 2021 Convention (Joe Raedle/Getty Images)
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Next, Michael Saylor will be holding a bake sale to fund his bitcoin purchases.

On the same day MicroStrategy, the business intelligence software firm that Saylor runs, announced it had completed the sale of $500 million in bonds to increase its stash of the leading cryptocurrency by market capitalization, the firm said it plans to sell up to $1 billion in stock to buy even more.

MicroStrategy's bitcoin trove is so big that owning the cryptocurrency is now described in the company's filings with the U.S. Securities and Exchange Commission as being part a key part of the firm's strategy. As of last week, the company held 92,079 bitcoin, worth more about $3.68 billion at the time of writing. With his latest capital raises, Saylor could bring that total to north of $5 billion.

Saylor's latest buying spree comes as bitcoin has lost more than a third of its value in the last month.


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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

James Rubin
James Rubin

James Rubin was CoinDesk's U.S. news editor based on the West Coast.

Follow @@JPRubin23 on Twitter

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