MicroStrategy Prepares For $1.75B Raise To Buy More Bitcoin Less Than 24 Hours After Latest $4.6B Purchase Disclosure
Software firm and the largest corporate Bitcoin holder, MicroStrategy, has announced its plans to raise an additional $1.75 billion to buy BTC less than 24 hours after the company disclosed its latest $4.6 billion purchase. The $1.75 billion will be raised through senior convertible notes with a 0% interest rate. This funding will be used “to acquire additional bitcoin and for general corporate purposes,” MicroStrategy said in a Nov. 18 statement. MicroStrategy Holds Over 10 Time More BTC Than Marathon Digital At current prices, MicroStrategy could purchase another 19,065 BTC if the company were to allocate the entire $1.75 billion toward buying Bitcoin. This would add to MicroStrategy’s substantial holdings in the leading crypto. Data from Bitcoin Treasuries shows MicroStrategy holds 331,200 BTC, valued at over $30.3 million. This is over 10 times more than the second largest institutional Bitcoin holder, BTC mining giant Marathon Digital Holdings. Mi...