Michael Saylors microstrategy is not cash rich. He is issuing and selling shares and using that money to buy BTC
1 min read
Microstrategy sold $334 million of shares. He then proceeded to buy $347 million of BTC. As of March, microstrategy only had $90 million of cash in its balance sheet. He is issuing shares and using the proceeds to buy more Bitcoin. The only reason he does this is probably because he thinks btc is undervalued compared to his companys shares?
Either that or is a chad/mentally regarded? Whatever it is this man does not stop buying btc and based off of his buys he doesn’t plan to sell anytime soon.
Source: https://www.bamsec.com/filing/119312523176793?cik=1050446
submitted by /u/torpidtrotter
[link] [comments]
