Michael Saylor's MicroStrategy Raising Another $500M to Buy More Bitcoin
Summary
MicroStrategy, now a Bitcoin Development Company, has filed to raise $500 million in a convertible debt offering to purchase more bitcoin. This follows a recent $800 million convertible debt raise, which was used to acquire an additional 12,000 bitcoins for $821.7 million. After this acquisition, MicroStrategy's bitcoin holdings amounted to 205,000 bitcoins, valued at nearly $15 billion. If bitcoin maintains its current value of around $73,000, the company could buy approximately 6,800 more tokens with the proceeds from the new offering.
