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.

Read more about...

DebtBitcoinMicroStrategy
Disclosure
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.