Ethereum

MicroStrategy secures $500 million to secure more Bitcoin

Software company and newly rebranded “Bitcoin development company” MicroStrategy has announced another private sale offering to buy more Bitcoin.

In an announcement Wednesday, the company said it plans to offer $500 million worth of senior convertible notes to institutional buyers by 2031, allowing the company to purchase additional cryptocurrencies.

Last week, the company said it would privately sell $600 million worth of convertible senior notes to buy more bitcoin.

MicroStrategy is the single largest corporate holder of Bitcoin, holding 205,000 digital coins worth over $15 billion at current prices.

I acquired my first Bitcoin in 2020. Michael Saylor, the company’s former CEO and current chairman, argues that a cryptocurrency strategy is the best way to preserve wealth and provide returns to shareholders.

Bitcoin’s current price is $73,220 per coin, up nearly 9% in seven days, according to CoinGecko data. It surpassed $73,600 this morning, breaking an all-time high.

Editor: Andrew Hayward

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