Now
billing
itself
as
a
Bitcoin
Development
Company,
MicroStrategy
(MSTR)
Wednesday
afternoon
filed
to
raise
$500
million
in
a
convertible
debt
offering,
with
intentions
to
use
the
proceeds
to
purchase
more
bitcoin
(BTC),
according
to
a
press
release.
The
company
only
days
ago
closed
on
an
$800
convertible
debt
raise
(upsized
from
an
originally
planned
$600
million),
with
those
proceeds
plus
some
dollars
already
in
the
bank
used
to
acquire
another
12,000
bitcoin
for
$821.7
million.
Following
that
buy,
MicroStrategy’s
stack
stood
at
205,000
bitcoins,
now
worth
just
shy
of
$15
billion.
Assuming
bitcoin
remains
around
its
current
$73,000
level,
the
company
would
be
able
to
purchase
somewhere
in
area
of
6,800
addition
tokens
with
proceeds
from
this
latest
offering.
MSTR
shares
are
down
marginally
in
after
hours
trading
after
gaining
10.85%
during
the
regular
session
to
an
all-time
high
close
of
$1,766.
The
stock’s
now
up
158%
year-to-date
alongside
bitcoin’s
rise
to
a
record
high
above
$73,000.
