MicroStrategy, the top-tier institutional Bitcoin (BTC) buyer, forged a deal with two agents – Cowen and Company and BTIG – to sell its aggregated class A common stock equivalent to $500,000,000, as disclosed via an SEC filing.

Specifically, MicroStrategy, co-founded by Bitcoin bull Michael Saylor, reportedly accumuulated around 129,699 BTC throughout numerous years at an aggregate purchase price of $3.977 billion. 

Regardless of market uncertainties, the business analytics software entity carries on with its effort to meet the target of obtaining more BTC via selling company stocks.

“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.”

Purchasing the dip is essential for MicroStrategy as the firm’s BTC reserve has plummetted to an aggregated value of approximately $2.8 billion – consequently leading to a loss of more than $1 billion, as shown by Bitcoin Treasuries data.

The FBI, together with two other federal agencies, CISA and MS-ISAC, requested U.S. citizens to report data that assists in the tracking of the whereabouts of the hackers.

The citizens have reportedly also received requests by the FBI to report on different information that would lend a hand in tracking down ransomware attackers, which include Bitcoin wallet information, ransom notes and IP addresses.

Bad actors show a preference towards fiat currency to carry out illicit activities over Bitcoin, due to the reason that the blockchain’s immutable nature makes it possible for authorities to track down crimes easily.