Microstrategy Looking to Invest Another $400 Million in Bitcoin

By Abhimanyu Krishnan | News | 8 Dec 2020

On Dec. 7, Microstrategy announced that it was planning to invest more into Bitcoin, this time up to $400 million in convertible bonds.

  • The $400 million from the bonds will be used to buy Bitcoin “pending the identification of working capital needs”
  • The company only just invested another $50 million in Bitcoin, bringing its total holdings to 40,824 BTC
  • Microstrategy’s repeated investments in Bitcoin have brought it a lot of attention -- President Phong Le said that the company’s profile had risen in an earnings call
  • Between Sep. and Dec 2020, the company purchased roughly 24,000 BTC, which has turned into a significant profit as a result of the recent Bitcoin rally
  • CEO Michael Saylor has been remarkably bullish about Bitcoin, but does levy some criticism against the market, saying that "awful market data" was holding it back

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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