Yesterday, the software company MicroStrategy revealed its intention to conduct a private sale of convertible senior notes worth $600 million. The funds will be used to acquire additional Bitcoin and increase its existing BTC holdings, as well as cover various corporate expenses. MicroStrategy currently holds the largest amount of Bitcoin among all public companies, with 193,000 BTC valued at over $13 billion after Bitcoin’s recent price increase. The company’s stock has been rising recently as Bitcoin nears its highest price from 2021. MicroStrategy announced that it intends to offer $600 million in convertible senior notes due in 2030 to qualified investors, with the possibility of an additional $90 million. Michael Saylor, the founder of MicroStrategy, is a vocal supporter of Bitcoin and initiated the company’s Bitcoin purchasing initiative in 2020 during the asset’s price increase. Despite the bear market, the company has stuck to its strategy and has recently witnessed an increase in its stock price as the value of its Bitcoin investment grows. The company originally paid around $6.1 billion for its Bitcoin, leading to a more than doubling in the value of its holdings. Note: This article has been updated with more information since it was first published. Stay informed about cryptocurrency news by subscribing to daily updates in your inbox. Please provide your email.