Michael Saylor, the leader of Strategy, announced the completion of a record $2 billion securities offering, enabling the company to continue acquiring Bitcoin.
$2 Billion to Buy More Bitcoin
Strategy completed an offering of 0% convertible senior notes worth $2 billion, maturing in 2030. The proceeds from this offering will be used to acquire more Bitcoin and for company operations.
Strategy's Bitcoin Strategy
Since changing its strategy in August 2020, MicroStrategy has regularly purchased Bitcoin, raising additional funds by selling stocks or offering bonds. Currently, the company holds 478,740 BTC.
Current State of Bitcoin
Amid a recent 4.5% drop in Bitcoin's price, it is currently trading at $95,910 per coin. The situation is complicated by a recent $1.4 billion hack of the Bybit exchange.
The $2 billion fundraising highlights Strategy's and Michael Saylor's commitment to remain at the forefront of crypto investments.
