Microstrategy’s Appetite for Bitcoin remains Unchanged ever after BTC Crossed the ATH of US$50,000
MicroStrategy revealed that they are going to buy an additional US$690 million worth of Bitcoin even after BTC crossed the all-time high (ATH) of US$50,000. The company’s CEO, Michael Saylor, said that his company intends to raise an additional US$690 million in convertible bonds to buy Bitcoin.
This investment will be in addition to the already owned 71,079 BTCs, which at the current price costs around US$3.5-billion. The use of convertible bonds to buy Bitcoin is not the first instance that Microstrategy is adopting such a maneuver. They have used it earlier too. After they make the investment, Microstrategy’s total holdings will be worth US$1.6 billion.
As an individual, Michael Saylor owns more than 17,730 Bitcoins. Saylor has also launched a free learning program called “Bitcoin for Everybody” for providing beginners the required tools for achieving financial independence.
In the last 6-months, the Bitcoin price has increased by over 700%. This shows that MicroStrategy is highly bullish on BTC.
