MicroStrategy applies to issue $500 million convertible bonds to purchase more Bitcoin

ChainCatcher news, according to CoinDesk, MicroStrategy (MSTR) submitted a $500 million convertible bond offering application on Wednesday afternoon and plans to use the proceeds to purchase more Bitcoin.

A few days ago, the company completed an $800 million convertible bond financing to acquire 12,000 Bitcoins at a price of $821.7 million.

It is reported that, assuming the price of Bitcoin remains around the current level of $73,000, the company will be able to use the latest raised funds to purchase an additional 6,800 Bitcoins.