MicroStrategy to buy another $1b of Bitcoin, SEC delays ETF and Tunisia legalizes BTC
MicroStrategy to buy another $1 billion of Bitcoin
MicroStrategy to have its first even bitcoin stock offering, aiming to raise $1 billion from equity, the company said in a filing. They announced this massive move just a day after successfully closing a $500 million bond offering.
“We intend to use the net proceeds from the sale of any class A common stock offered under this prospectus for general corporate purposes, including the acquisition of bitcoin, unless otherwise indicated in the applicable prospectus supplement.”
MicroStrategy currently has a market cap of just $6 billion on gross profits of $400 million a year, $80 million of it being net income.
They have 91,326 bitcoin in possession prior to this new $1.5 billion stock and bond offering, worth about $3.6 billion at the current price.
Tunisia to legalize Bitcoin after teen arrest
Tunisia’s Finance Minister, Ali Kooli, stated bitcoin will be legalized in Tunisia, with the minister promising on national TV:
“I will change the law, we cannot put a Tunisian young man in prison for buying Bitcoin.”
Bitcoin is not banned in Tunisia, but the police there arrested a 17 year old gamer for making a bitcoin transaction, ostensibly confusing it with money laundering. Tunisian Mustapha Boufares, Founder of DFI Blockchain, says:
“This arrest was carried out not because of an offense committed, but only because of the total absence of law concerning the use of cryptocurrencies in Tunisia. This young man was arrested because the police accused him of money laundering, after having been unable to determine the exact origin of the funds.”
SEC Delays Kryptoin Bitcoin ETF Filing Decision to July 27
The U.S. Securities and Exchange Commission (SEC) has pushed back its decision on Kryptoin’s Bitcoin exchange-traded fund (ETF) filing to July 27.
Delaware-based investment firm Kryptoin first filed its application for a Bitcoin ETF back in October 2019. The announcement from the Securities and Exchange Commission (SEC) from the 9th of June says:
“The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the comments received.”
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