ICYMI: MicroStrategy plans to increase its $BTC holdings Bitcoin BTC
, has filed with the U.S. Securities and Exchange Commission to sell up to $500 million worth of stock. The funds earned could be used to purchase more Bitcoin.
With funds raised through stock and bond offerings, MicroStrategy has bought over 130,000 Bitcoin worth more than $2 billion since 2020., MicroStrategy bought 480 Bitcoin in June for almost $10,000,000. To purchase more Bitcoin, MicroStrategy borrowed $205 million in March from cryptocurrency-focused bank Silvergate over three years, using its Bitcoin holdings as collateral.
It is interesting to note that MicroStrategy's BTC purchase in June follows Bitcoin's decline to a low of $17,566.
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