Share this article
MicroStrategy Files to Sell Up to $500M of Stock to Fund Bitcoin Purchases
The deal is a sign Executive Chairman Michael Saylor isn't backing off his audacious plan to turn his software developer into a bitcoin proxy.
By Nelson Wang
Updated May 11, 2023, 5:41 p.m. Published Sep 9, 2022, 9:36 p.m.
MicroStrategy (MSTR), a software developer that has become a corporate bitcoin vault, plans to sell up to $500 million of stock to fund more purchases of the cryptocurrency.
A Friday filing with the U.S. Securities and Exchange Commission revealed the stock offering, which will be for “general corporate purposes, including the acquisition of bitcoin.”
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The timing stands out because it's the first tangible sign that founder Michael Saylor, who recently stepped down as CEO to become executive chairman and focus on buying bitcoin, really is not backing off his audacious plan to turn MicroStrategy into a crypto proxy. Since 2020, he's used money raised from stock and bond offerings to purchase about 130,000 bitcoin, worth more than $2 billion.
MicroStrategy's stock has, as a result, become tethered to the price of bitcoin – resulting in a $1.2 billion loss on the bitcoin bet given this year's plunge. But the shares surged 12% Friday as bitcoin jumped almost 10%. The stock fell about 1.5%, though, in after-hours trading following the announcement of the stock offering, which will dilute the value of existing shares.
Cowen and BTIG, two of the most-prominent investment banks that covers crypto-related stocks, are leading the stock offering.
Saylor and MicroStrategy were recently sued by the District of Columbia for allegedly evading taxes on Saylor’s earnings in the district.
Read more: Michael Saylor Lost Big in the Dot-Com Bubble and Bitcoin's Crash. Now He Aims to Rebound Again
Oliver Knight and Aoyon Ashraf contributed reporting.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
