u.today
MicroStrategy is seeking to raise an additional $400 million by offering senior secured notes to purchase more Bitcoin, according to a Jun. 7 press release:
MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoins.
In its recent filing with the U.S. Securities and Exchange Commission, the company also reported an impairment loss of at least $284.5 million related to its previous Bitcoin purchases.
In February, the company raised a whopping $1.05 billion and then announced bought more Bitcoin within the same month.
Its most recent Bitcoin purchase took place in mid-May.
The business intelligence firm currency holds 92,079 BTC.
Bitcoin has jumped a meager 1.31 percent on the news, currently trading at $36,665 on the Bitstamp exchange. The bellwether cryptocurrency is currently down 44 percent from its Apr. 14 peak.