MicroStrategy’s holdings are just 5,000 BTC shy of 1% of Bitcoin’s theoretical maximum supply
According to Cointelgraph, MicroStrategy has submitted a $500 million application for convertible senior notes this week and plans to use the funds to purchase more Bitcoin. Assuming that the price of Bitcoin remains at its current level of around $73,000, MicroStrategy will be able to purchase 6,800 Bitcoins with the newly raised funds. Currently, MicroStrategy holds 205,000 BTC, only 5,000 BTC away from 1% of the theoretical maximum supply of Bitcoin. If they were to use all of the newly raised $500 million to purchase Bitcoin, their holdings would exceed 1% of the theoretical maximum supply of Bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitget donates HK$12 million to support fire rescue and reconstruction efforts in Tai Po, Hong Kong
Bitget Spot Margin Announcement on Suspension of ELX/USDT Margin Trading Services
Enjoy perks for new grid traders and receive dual rewards totaling 150 USDT
Bitget Spot Margin Announcement on Suspension of BEAM/USDT, ZEREBRO/USDT, AVAIL/USDT, HIPPO/USDT, ORBS/USDT Margin Trading Services
