MicroStrategy Raises $500M From Bond Sale to Buy More Bitcoin

The announcement comes with news of a new bitcoin-holding subsidiary, MacroStrategy LLC.

AccessTimeIconJun 14, 2021 at 1:54 p.m. UTC
Updated Sep 14, 2021 at 1:10 p.m. UTC

MicroStrategy is preparing to buy up to $488 million in bitcoin with the proceeds of a $500 million bond sale it just completed, the company said Monday.

  • 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.

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