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23 June 2021

MicroStrategy Plans Another BTC Purchase Nearing $500 Million | Live Bitcoin News

MicroStrategy Plans Another BTC Purchase Nearing $500 Million | Live Bitcoin News


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As if MicroStrategy did not already own a ton of bitcoin, the software firm with stock shares trading for nearly $500 at the time of writing has announced it is looking to sell approximately $400 million worth of company debt so it can purchase more BTC units.

At press time, the company owns more than $2 billion in bitcoin, making it the biggest institutional bitcoin investor in the world.

For many other companies, they likely would have sold and cut their losses short, but MicroStrategy used the opportunity to purchase more bitcoin and add more than $100 million worth of bitcoin to its already giant stash.

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