MicroStrategy is about to buy another $ 400 million in bitcoins
According to a June 7 press release, MicroStrategy is trying to raise another $ 400 million by issuing and providing senior collateral to buy more bitcoins:
"MicroStrategy intends to use the net proceeds from the sale of these securities to obtain additional bitcoins."
In a recent case with the US Securities and Exchange Commission (SEC), the company also reported a loss of at least $ 284.5 million in value from its previous bitcoin purchases.
In February, MicroStrategy raised $ 1.05 billion and then used that 9-digit amount to buy more bitcoins in the same month.
The business intelligence company currently owns 92,079 bitcoins. The company has also formed a new subsidiary called MacroStrategy LLC to maintain its bitcoin wealth.
Bitcoin, with a slight drop of 1.31% in the news, is currently trading at $ 36,665 at the Bitstamp exchange. The leading cryptocurrency is currently down 44% from its April 14 high.
