coindesk.com
Now billing itself as a Bitcoin Development Company, MicroStrategy (MSTR) Wednesday afternoon filed to raise $500 million in a convertible debt offering, with intentions to use the proceeds to purchase more bitcoin (BTC), according to a press release.
The company only days ago closed on an $800 convertible debt raise (upsized from an originally planned $600 million), with those proceeds plus some dollars already in the bank used to acquire another 12,000 bitcoin for $821.7 million.
Following that buy, MicroStrategy's stack stood at 205,000 bitcoins, now worth just shy of $15 billion. Assuming bitcoin remains around its current $73,000 level, the company would be able to purchase somewhere in area of 6,800 addition tokens with proceeds from this latest offering.
Read more: 'Bitcoin Is Going to Eat Gold': MicroStrategy’s Michael Saylor