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News - MicroStrategy puts itself in debt for Bitcoin
MicroStrategy continues to bet on Bitcoin and keeps stacking sats. To continue investing in the cryptocurrency, the company is taking on new debt.
Michael Saylor's business intelligence company is borrowing the money to fully bet on Bitcoin. That's according to a press release. The American company plans to issue a total of $600 million in new bonds to institutional investors.
MicroStrategy Announces Proposed Private Offering of $600 Million of Convertible Senior Notes $MSTR https://t.co/PEN5dxesIb
— Michael Saylor⚡️ (@saylor) March 4, 2024
The move, however, is nothing new. The company has funded its Bitcoin investments before by raising debt or selling its own shares.
MicroStrategy has the highest Bitcoin stake of any publicly traded company. The company last bought more in late February. It currently has 193,000 BTC worth more than $6 billion.
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