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.
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.