News - MicroStrategy founder wants to buy more Bitcoin

By Luc Vesters

MicroStrategy founder wants to buy more Bitcoin

Bitcoin (BTC)

Business intelligence company MicroStrategy has again announced its acquisition of Bitcoin (BTC). To do so, the company plans to take on debt (so-called convertible notes) totaling $500 million. The notes would mature in 2031.

"MicroStrategy plans to use the net proceeds from the sale of the notes to purchase additional Bitcoin and for general corporate purposes," according to the March 13 press release.

Michael Saylor is considered one of the most high-profile figureheads in the Bitcoin space. Although MicroStrategy was originally set up as a software company, Saylor is increasingly focusing on Bitcoin.

MicroStrategy currently owns 205,000 BTC, which is nearly 1 percent of the total possible amount of Bitcoin in circulation.

Saylor does not shy away from aggressive leveraged positions and repeatedly buys BTC on credit.

In the wake of the recent crypto market price hikes, the former MicroStrategy CEO is a popular interview guest in the media.

He recently polarized opinions with a statement in which he labeled people who measure their wealth in fiat money such as the U.S. dollar (rather than Bitcoin) as "poor."

Saylor took about four years to collect 205,000 BTC. Asset manager BlackRock, which launched the iShares Bitcoin Trust (IBIT), currently the most successful Bitcoin ETF, took only three months to collect more than 215,000 BTC.

Bitcoin is marching from one all-time high to the next, fueled by the massive demand for Bitcoin ETFs. Digital gold is currently trading at a high of USD 73,770, up 12 percent over the week.

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