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MicroStrategy Says It May Buy More Bitcoin in Stock Sale Filing

  • Firm plans to sell as much as $500 million in Class A shares
  • Michael Saylor gave up CEO role to focus on Bitcoin strategy

MicroStrategy Inc., probably best known as the largest corporate buyer of Bitcoin, filed with the US Securities and Exchange Commission to sell as much as $500 million in stock. Proceeds may be used to buy more of the cryptocurrency. 

The Class A shares will be sold through Cowen & Co. and BTIG LLC, according to a filing Friday by the enterprise software company. No specific date was provided for any potential sales. The firm added that it intends to retain all future earnings, if any, to purchase additional Bitcoin and for the development of the software business.