MicroStrategy (NASDAQ:MSTR) has purchased more than 29,000 bitcoin through money raised via debt issuance.
- CEO Michael Saylor announced that MicroStrategy bought 29,646 bitcoin, according to a blog dated Dec. 21.
- After this purchase, the business intelligence company now holds 70,470 BTCs worth some $1.6B in its treasury.
- MicroStrategy upsized its original $400M issuance to $650M.
- Saylor issued the debt for no other reason than for his public company to buy more bitcoin.