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
