Relentless Bitcoin Buyer: MicroStrategy Continues to Incur Debt for Bitcoin
In a remarkable move, the world's largest company holding Bitcoin has announced another planned private placement of debt securities. According to Crypto Guru, MicroStrategy is planning its third bond issuance this year, aiming to raise $700 million through the issuance of convertible senior notes.
These new funds are intended to partially repay existing debt. However, a significant portion of the proceeds will once again be invested in acquiring more Bitcoin to strengthen the company's BTC strategy. The CEO of Marathon Digital Holdings commented on this development with a mix of admiration and concern about the market share of available Bitcoins.
According to the report, MicroStrategy currently owns an impressive 244,800 BTC, valued at approximately $14.24 billion at the current market price. The latest acquisition between mid-August and September includes around 18,300 BTC worth approximately $1.1 billion.
Despite this aggressive investment strategy, the company's stock prices largely reflect the fluctuations in Bitcoin prices; they recently dropped by almost five percent to a closing price on Google Finance on Monday evening.
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