![MicroStrategy goes into debt to buy more Bitcoin!](https://s40560.pcdn.co/wp-content/uploads/2023/03/bic_Michael-Saylor_neutral_1-1-850x478.png)
From the beginning, MicroStrategy and its co-founder Michael Saylor bet on investing in Bitcoin. AndNOW The company took on debt worth $600 million just to buy more Bitcoin!
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MicroStrategy continues to invest heavily in Bitcoin
Michael Saylor is a strong advocate of Bitcoin and believes in its long-term potential. Thus, the company he founded, MicroStrategy, has just announced that it will issue $600 million worth of bonds in order to buy more bitcoins! In fact, MicroStrategy has invested heavily in Bitcoin since 2020.
MicroStrategy currently owns over 190,000 Bitcoins worth nearly $13 billion. However, on March 6, 2023, the company announced its desire to issue $600 million in convertible bonds to institutional investors with a potential raising of an additional $90 million.
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These bonds may be convertible into category A shares, under specified conditions. With interest paid every six months, from next September until March 2030.
Following this announcement, MicroStrategy stock saw significant growth, rising from $1,080 to $1,300. (At the time of writing this article). Michael Saylor also emphasized that he is relying on a long-term strategy and does not want to sell the company's Bitcoins anytime soon.
By purchasing new bitcoins, it seems that this strategy is still relevant. It also appears that the company wants to hold it for the long term and not just resell it for short-term profits.
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In fact, even though Bitcoin has been around for over 14 years, it is only now starting to become more popular thanks to the emergence of Bitcoin ETFs. The adoption of cryptocurrencies is also expected to become more widespread.
It therefore seems that MicroStrategy wants to be part of this evolution, which explains its enormous investment in Bitcoin, which remains an asset of which there are only 21 million tokens in total.
As a reminder, during a conference organized at the beginning of March, Michael Saylor shared his vision of Bitcoin and artificial intelligence. For the founder of MicroStrategy, Bitcoin is a new alternative to gold.
Of confidence
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