Microstrategy (NASDAQ:MSTR) is looking to further bolster its Bitcoin holdings. The business intelligence firm has already made significant investments in the popular cryptocurrency, but it seems they are not done yet.
Microstrategy made headlines when it announced it had purchased over $1 billion worth of Bitcoin in 2020, making it one of the largest corporate holders of the digital currency. The move was seen as a bold and risky strategy by many, but it has paid off handsomely for the company as the price of Bitcoin has soared in recent months.
Now, it appears that Microstrategy is looking to add even more Bitcoin to its balance sheet. The company recently announced a new debt offering of $600 million, with the intention of using the proceeds to buy more Bitcoin. This move signals Microstrategy’s confidence in the long-term potential of Bitcoin as an asset.
While some may view Microstrategy’s heavy investment in Bitcoin as a gamble, others see it as a savvy move that could pay off in the long run. The company’s CEO, Michael Saylor, has been a vocal proponent of Bitcoin, touting its potential as a store of value and a hedge against inflation.
Only time will tell if Microstrategy’s bet on Bitcoin will continue to pay off, but for now, it seems the company is doubling down on its investment in the cryptocurrency.