MicroStrategy Is Set To Make A $600 Million Bond Sale To Buy More Bitcoin; Bitcoin Hits Close At Its ATH

Microstrategy, one of the prominent Bitcoin investors has announced its plans to sell off $600 million worth of convertible senior notes to increase its Bitcoin holdings. This decision was released on Monday, showing its commitment to cryptocurrency investment. 

A significant key player in the software industry, Microstrategy wants to direct its net proceeds from this sale to acquire more Bitcoin and cover general corporate expenses. This announcement was just in timing as Bitcoin’s (BTC) price is approaching a historical peak of $69,000.

In addition, Microstrategy’s stock (MSTR) also went up by 23% closing the day at $1,334 per share. This increase shows Microstrategy’s stock reaching significant highs in over 20 years. 

At this stage, Microstrategy owns approximately 193,000 Bitcoin, equivalent to $13 billion.

Meanwhile, Bitcoin (BTC) marked a new high this year after reaching $68,000 last night. However, BTC witnessed a sharp correction and fell back to $65,000.

Aside from the new ATH, the Bitcoin halving event is also fast approaching. Although the Bitcoin halving will be significant for the Bitcoin price, it may have a different aspect for Bitcoin miners. 

With Bitcoin halving, the miners will only get to receive half of the rewards they’re currently getting and may need to set a plan to survive. In this case, Bitcoin investors have welcomed the halving event with much anticipation of further price increases but miners don’t feel the same.

Bitcoin (BTC) is currently trading at $66,653, 2.16% higher in the last 24 hours. It stays at the #1 rank with a total market cap of $1.3 trillion.

ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.

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