MicroStrategy Raises $500M From Bond Sale to Buy More Bitcoin
The announcement comes with news of a new bitcoin-holding subsidiary, MacroStrategy LLC.
Updated May 9, 2023 at 3:20 a.m. UTC
![MicroStrategy CEO Michael Saylor walks through the Bitcoin 2021 convention.](https://www.coindesk.com/resizer/X1XvaOe44rnvZ18DmeZj4ZNGzl4=/567x378/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/Z62NZ6EJD5AFDO7WS2GQ6KO5F4.jpg)
- The business intelligence software company controlled by CEO Michael Saylor will add to its vast trove of bitcoin.
- MicroStrategy said its approximately 92,079 BTC is being held by a newly formed subsidiary, MacroStrategy LLC.
- The proceeds of the junk bond sale have yet to be spent on bitcoin.
- Saylor has made bitcoin acquisition a second mandate for his 32-year-old company after its main business of developing software.