Michael Saylor’s MicroStrategy (MSTR) Plans Another $700 Million Convertible Note Issue To Repurchase Debt And Boost Bitcoin (BTC) Deposit

The company, led by executive chairman Michael Saylor, began buying bitcoin in 2020, adopting it as a backup asset for its treasury. Since then, he has become the largest corporate buyer of bitcoin, amassing 244,800 BTC, worth about $14.2 billion at current prices. Just a few days ago, MicroStrategy revealed the purchase of another $1.1 billion worth of bitcoin, leaving it with $900 million available from a previous offering.