MicroStrategy Sells Shares to Raise Funds, Bitcoin Responds with a Jump
On Thursday, MicroStrategy announced plans to sell more shares to raise funds, intending to invest more in digital currencies, resulting in a surge in Bitcoin's price.
On that Thursday, as soon as MicroStrategy announced the sale of shares to raise funds for increasing their investment in digital currencies, Bitcoin immediately spiked upwards.
You see, Bloomberg reported that at around 11:30, Bitcoin in Singapore rose by 0.32%, reaching $98,747, and initially even surged to $99,876.70.
Not just Bitcoin, popular currencies like Ethereum and Solana also rose by 0.2% after a drop on Wednesday.
MicroStrategy's Plan to Buy More Bitcoin Pushes Prices Higher
If MicroStrategy really intends to continue hoarding Bitcoin, the cryptocurrency market could become even more lively. Sean McNulty, a trading bigwig at Arbelos Markets, stated that everyone is now looking forward to MicroStrategy buying Bitcoin, which he considers the primary reason for the increase in Bitcoin's price. He also mentioned that keeping up with MicroStrategy's news has become part of his daily routine.
MicroStrategy informed the U.S. Securities and Exchange Commission on December 23 that they want to sell more Class A common stock and preferred stock.
If this plan succeeds, they will be able to raise more funds and continue to expand their Bitcoin "treasury."
Don't be fooled by short-term fluctuations; let Rose guide you, uncovering a potential coin that is expected to multiply tenfold or more! Follow Rose to find your way out of confusion and towards financial freedom! Like + Comment for free sharing.
