Crypto alert: “A critical surprise earthquake” is approaching according to this SEC filing following the sudden rebound in bitcoin and ethereum prices.





Bitcoin, Ethereum and other major cryptocurrencies surged in September, but some fear a “black swan” event is imminent.

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This week, bitcoin price rose back above the much-watched $20,000 per bitcoin mark, while ethereum price surged following the successful first leg of its sweeping merger upgrade . All eyes are on the essential information that will be released next week.

Now business intelligence software company MicroStrategyMSTR
known to be the largest bitcoin buying company, revealed that it plans to sell $500 million worth of shares, with the proceeds from that sale being able to be used to buy more bitcoins.

Bitcoin price has rebounded from its recent lows, pushing up Ethereum price and others…. [+] major cryptocurrencies.

“We intend to use the net proceeds from the sale of any Class A common stock offered under this Prospectus for general purposes, including acquiring bitcoin, unless otherwise specified in the Prospectus Supplement. applicable,” MicroStrategy wrote in a Securities and Exchange Commission (SEC) filing this week.

However, MicroStrategy, which has accumulated nearly 130,000 bitcoins worth $2.7 billion over the past two years, has warned that wild swings in the price of bitcoins could cause it to lose money on this. bet.

“Future bitcoin price fluctuations may cause us to convert bitcoin purchased with the net proceeds of this offering into cash at a value significantly less than the net proceeds of this offering,” the company said.

The price of bitcoin has crashed from nearly $70,000 per bitcoin late last year, losing around 70% of its value and wiping out some $2 trillion from the combined cryptocurrency market. The price of Ethereum and most other major cryptocurrencies saw similar declines.

The price of bitcoin fell sharply in 2022, falling along with the price of ethereum and others…. [+] major cryptocurrencies.

The bitcoin, ethereum and cryptocurrency market have fallen along with many once-high-growth tech stocks this year as the Federal Reserve embarks on a monetary tightening program aimed at lowering the inflation which has reached its highest level in 40 years.

Last month, MicroStrategy founder Michael Saylor stepped down from running the company to become executive chairman and focus on buying bitcoins.

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Be vigilant and consult your financial adviser before making any investment decision. Mirror-Mag cannot be held responsible in the event of bad investments. Before using any third-party service, you should do your own research.

Thomas E.
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