Continuing the accumulation strategy that has been so successful for the company, Michael Saylor’s MicroStrategy has announced it will raise $2.6 billion to buy more Bitcoin. That figure is up from the previous $1.75 billion they had raised for BTC purchasing purposes.
In a press release issued today, the firm announced an offering of convertible senior notes. Indeed, the move continues the same process the company has used to grow its Bitcoin holdings. To this point, it has paid dividends, with the company’s stock surging amid its ongoing accumulation of the leading crypto.
Also Read: Michael Saylor’s Bitcoin Pitch to Microsoft Set to Lead Another Crypto Boom?
MicroStrategy to Raise $2.6 Billion—Up From $1.75 Billion—to Buy More Bitcoin
Bitcoin has continued to have a November to remember this year. Just last week, the asset had reached an all-time high of $93,000. The 2024 US presidential election was a big reason why, with pro-Bitcoin candidate, Donald Trump set to return to the White House. Now, Wednesday has seen BTC reach yet another all-time high of $94,000.
This month has been huge for cryptocurrencies and their future place. However, they’ve also been massive for its toughest defenders. Perhaps no one has been more vocal in their belief and defense of Bitcoin’s merits than Michael Saylor. Moreover, he has continued to put his money where his mouth is
Also Read: Michael Saylor Predicts When Bitcoin Will Reach $100,000
And the company is not looking to stop buying the token anytime soon. Indeed, Saylor’s MicroStrategy announced it will raise $2.6 billion to buy more Bitcoin. The amount was increased from the $1.75 billion reported yesterday. Moreover, it comes after they had bought $4 billion in Bitcoin earlier this week.
The company has seen its BTC accumulation strategy work wonders. Wall Street has shown interest in MicroSTraetgy shares as Bitcoi’s bull run unfolds. Vanguard, the second-largest asset manager in the world, increased its position in the software company. Altogether, the reach from its BTC strategy has been undeniable to his point.