MicroStrategy's holdings are only 5,000 BTC away from 1% of Bitcoin's theoretical maximum supply

ChainCatcher news, according to Cointelgraph, MicroStrategy submitted an application this week for a $500 million convertible senior note offering and plans to use the proceeds to purchase more Bitcoin. Assuming the price of Bitcoin remains around the current level of $73,000, MicroStrategy will be able to use the newly raised funds to buy 6,800 Bitcoins.

Currently, MicroStrategy holds 205,000 BTC, just 5,000 BTC short of 1% of Bitcoin's theoretical maximum supply. If the entire $500 million raised is used to purchase Bitcoin, its holdings will exceed 1% of Bitcoin's theoretical maximum supply.