MicroStrategy announces a $500 million convertible debt fundraising campaign. This fundraising effort is explicitly aimed at acquiring more bitcoins.
After a recent investment of $821.7 million in bitcoin, MicroStrategy now holds 205,000 bitcoins, valued at nearly $15 billion.
MicroStrategy, now self-proclaimed as a “Bitcoin development company,“ is pursuing another $500 million convertible debt fundraising campaign. This initiative specifically targets additional bitcoin acquisitions.
Just a few days after completing an $800 million capital increase (originally planned for $600 million), MicroStrategy reaffirms its intention to make massive investments in Bitcoin. With this latest operation, the company has added 12,000 bitcoins to its portfolio for a total investment of $821.7 million.
This new financial contribution positions MicroStrategy’s bitcoin reserves at 205,000 BTC, approaching a value of $15 billion.
By anticipating Bitcoin to remain around its current price of $73,000, MicroStrategy could increase its war chest by nearly 6,800 additional bitcoins through this new financing operation.
Despite a slight drop in post-market trading, MSTR shares saw a staggering 10.85% increase yesterday, reaching a historical high of $1,766. Since the beginning of the year, the stock price has surged by 158%, parallel to the record-breaking value of Bitcoin, which has also crossed the $73,000 threshold.
