Michael Saylor’s MicroStrategy (MSTR) Plans Another $700M Convertible Note Issuance to Redeem Debt, Boost Bitcoin (BTC) Stash

The company, under the leadership of Executive Chairman Michael Saylor, made the strategic decision to start purchasing bitcoin in 2020. They adopted bitcoin as a reserve asset for their treasury, a move that has proven to be highly successful.

MicroStrategy has emerged as the largest corporate buyer of bitcoin, having accumulated an impressive 244,800 BTC. At current prices, this amount is valued at approximately $14.2 billion.

Just recently, MicroStrategy announced the purchase of an additional $1.1 billion worth of bitcoin. This acquisition leaves the company with $900 million still available from a previous offering, further solidifying their position as a major player in the cryptocurrency market.