MicroStrategy has increased its size of a junk-bond sale to buy later up to $500 million in bitcoin (EXANTE: Bitcoin), Bloomberg has learned. The increase of 25% comes just a day after the company announced a private offering for $400 million to invest more in the cryptocurrency. However, it remains unknown when or on what terms the offering may be completed.
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MicroStrategy's CEO, Michael Saylor, says that the company has received approximately $1.6 billion in orders for the offering from hedge funds. The interest comes despite the fact that bitcoin loses its value by reaching a three-week low.
As of press time, BTC is trading at the $32,542 mark. MicroStrategy owns 92,079 BTCs as of mid-May, which it says were acquired for about $2.25 billion.
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