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Bitcoin Bonanza: MicroStrategy’s Massive $780 Million Purchase Shocks Market

Daniel Kim Views  

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“This man is the real deal.”

According to foreign media reports on the 21st, U.S., corporate software company MicroStrategy recently issued convertible bonds (CB) to purchase an additional $780 million worth of Bitcoin. They made this purchase as Bitcoin prices fell below $65,000.

MicroStrategy is famous for its Bitcoin debt investment. According to the U.S. Securities and Exchange Commission (SEC), from April 27 to May 19, MicroStrategy bought 11,931 Bitcoins.

Along with this purchase, the company bought 12,000 Bitcoins for $821 million on March 11, marking three large-scale Bitcoin purchases this year alone.

The company has spent $2.4 billion on Bitcoin purchases this year alone and continues to utilize the corporate bond market to raise funds for the purchases.

With these purchases, MicroStrategy’s Bitcoin holdings have increased to 226,331, worth approximately $14.9 billion at current prices. The company has spent $8.3 billion on Bitcoin purchases.

Michael Saylor, co-founder of MicroStrategy, has been buying Bitcoin since 2020 as an alternative for inflation hedge and holding cash. Since then, the price of Bitcoin has increased by about 600%.

Daniel Kim
content@viewusglobal.com

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