MicroStrategy Inc. is accelerating its Bitcoin acquisition strategy by increasing its convertible note sale by nearly 50% to fund further cryptocurrency purchases. The company, now identifying as a Bitcoin Treasury firm, aims to raise $42 billion over the next three years to expand its Bitcoin holdings. Recently, MicroStrategy purchased a record $4.6 billion worth of Bitcoin, funded through a stock share program. The $2.6 billion from the 0% senior note offering will be used to augment its current $31 billion Bitcoin reserve.

MicroStrategy Inc. is accelerating its pace of Bitcoin buying by increasing the amount of convertible notes it’s selling by almost 50% to fund additional purchases of the cryptocurrency. The once obscure software maker, which now calls itself a Bitcoin Treasury company, is moving rapidly to meet a goal announced last month of raising $42 billion in capital over the next three years to buy more Bitcoin. MicroStrategy said Monday that it bought a record $4.6 billion of the tokens, funded through an at-the—market stock share program. It will use the $2.6 billion raised from the 0% senior note offering to add to its roughly $31 billion stockpile. 

MicroStrategy Accelerates Bitcoin Purchases, Increases Convertible Note Sales

MicroStrategy Accelerates Bitcoin Purchases, Increases Convertible Note Sales