u.today
Bloomberg Terminal on the X social media network has reported that the MicroStrategy giant founded and spearheaded by Bitcoin evangelist Michael Saylor has just announced another step for increasing its BTC holdings.
According to the X post, the company has increased its initial recently-announced $1.75 billion notes offer to $2.8 billion. The proceeds will be used to purchase an additional Bitcoin batch.
$MSTR - MICROSTRATEGY TO SELL $2.6B OF NOTES UPSIZING FROM PREVIOUS $1.75B SALE, USE PROCEEDS TO BUY BITCOIN
— *Walter Bloomberg (@DeItaone) November 20, 2024
The initial offer was announced on November 18, when the company offered to sell to investors convertible senior notes due 2029.
As reported by U.Today earlier this week, the company bought an astounding $4.6 billion worth of Bitcoin in just one week, which equals 51,780 BTC. Now, MicroStrategy holds a total of 331,200 BTC. This is an approximate equivalent to $29.7 billion at the current BTC market price.
On Tuesday, Bitcoin soared to a new historic peak of $94,000 per coin.