Software company and newly branded “Bitcoin Development Company” Microstrategy has announced another planned private sale to buy more Bitcoin.
In a Wednesday announcement, the company said it plans to offer $500 million of convertible senior notes due 2031 to institutional buyers to buy more cryptocurrency.
The company said last week it would offer $600 million of convertible senior notes in a private sale to buy more bitcoin.
MicroStrategy is the single largest corporate owner of Bitcoin, with 205,000 digital coins in its treasury — more than $15 billion at today's value.
He first bought Bitcoin in 2020. The company's former CEO and now chairman, Michael Saylor, says the crypto strategy is the best way to preserve wealth and generate returns for shareholders.
Bitcoin is trading at $73,220 a coin today, up nearly 9% in seven days, according to CoinGecko data. It hit a new all-time high above $73,600 earlier today.
Edited by Andrew Hayward.
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