Mega Bitcoin Purchase
MicroStrategy, a software company, is planning to buy even more Bitcoin. They’re raising $500 million to add to their already massive Bitcoin stash. Just recently, they bought $821.7 million worth of Bitcoin.
Bitcoin Acquisition Spree
MicroStrategy is on a Bitcoin buying spree, likely because the cryptocurrency has been going up in value. As of now, they own 205,000 Bitcoins, worth over $15 billion. They’ve even surpassed BlackRock’s Bitcoin ETF in terms of holdings.
Convertible Senior Notes
This time, MicroStrategy is raising money through convertible senior notes, which are basically loans that can be converted into stock. They’ve seen a rise in their stock value recently, so this is a smart move.
Funds for Bitcoin and Corporate Purposes
The money raised from the notes will be used to buy more Bitcoin and for other business needs. MicroStrategy is committed to holding Bitcoin for the long term.
