MicroStrategy Acquires Approximately 80,000 BTC in November

Foreks - MicroStrategy's impressive acquisition of approximately 80,000 BTC this month has lifted its total assets to over 330,000 BTC, valued at around $30 billion. MicroStrategy is taking steps to raise additional funds to purchase more Bitcoin.

According to a filing with the U.S. Securities and Exchange Commission (SEC), the corporate software producer MicroStrategy, whose corporate strategy includes the acquisition of digital assets, purchased approximately 51,780 Bitcoin between November 11 and November 17.

This figure follows the acquisition of over 27,000 Bitcoin between October 31 and November 10, and two significant purchases in September.

MicroStrategy announced plans to offer $1.75 billion in convertible senior notes maturing in 2029, stating that a portion of the proceeds will be used to purchase additional tokens.

Michael Saylor, co-founder and Executive Chairman of MicroStrategy, decided to invest in Bitcoin in 2020 as a hedge against inflation. The company initially used cash for its purchases but has since utilized revenues from stock issuance and sales, as well as convertible debt offerings, to increase its purchasing power. On October 30, the company announced that it had engaged banks to help raise $42 billion through new equity and fixed-income sales for additional Bitcoin purchases.