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International Business Times
International Business Times
Business
Marvie Basilan

MicroStrategy Resumes BTC Buying Spree With $500M Investor Offering Amid Increasing Competition

MicroStrategy Bitcoin Michael Saylor
MicroStrategy has been stocking up on Bitcoins for years, but more companies have been adopting its treasury tactic in recent months. (Credit: Youtube Screenshot/ MicroStrategy Official YouTube Channel)

KEY POINTS

  • MicroStrategy made the announcement as more companies adopt their own Bitcoin strategies
  • Bitcoin prices have been down by 6% in the last seven days
  • MicroStrategy last purchased BTC in April, bringing its total holdings to over 214K

Tech firm MicroStrategy already holds over 200,000 Bitcoins, but apparently, this stash isn't enough as the company founded by BTC maximalist Michael Saylor announced it intends to offer $500 million worth of convertible senior coins to snap up more of the world's largest cryptocurrency by market cap.

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