MicroStrategy Raises $500M From Bond Sale to Buy More Bitcoin

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14 June 2021

MicroStrategy is preparing to buy up to $488 million in bitcoin with the proceeds of a newly completed bond sale, the firm said Monday.

  • The business intelligence company controlled by CEO Michael Saylor is adding to its vast trove of bitcoin with the new debt raise.
  • MicroStrategy said its approximately 92,079 BTC is being held by a newly formed subsidiary, MacroStrategy LLC.
  • The proceeds of the junk bond sale have yet to be spent on bitcoin.
  • Saylor has made bitcoin acquisition a second mandate for his 32-year-old firm.
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