Bitcoin

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MicroStrategy has announced plans to raise $700 million through new senior convertible bonds maturing in 2028 to purchase additional Bitcoin. Since 2020, MicroStrategy has invested nearly $9.5 billion in acquiring over 244,000 BTC, setting an average purchase price of $38,585 per BTC.
The current market value of the company's <a href="https://ultramining.com/news/en/rising-mining-difficulty-squeezes-bitcoin-miners-sparks-accumulation-among-whales/" rel="noopener noreferrer nofollow">Bitcoin holdings</a> exceeds $14 billion, making MicroStrategy the largest corporate holder of cryptocurrency. The firm intends to use the net proceeds from the bond offering to redeem $500 million of existing debt and allocate remaining funds to further invest in Bitcoin.
MicroStrategy's aggressive Bitcoin accumulation is influencing other crypto <a href="https://ultramining.com/news/en/blockstream-aims-for-bitcoin-profit-with-mining-rig-investment-ahead-of-2024-halving/" rel="noopener noreferrer nofollow">mining companies</a>. Cathedra Bitcoin announced a shift in strategy, deciding to cease mining operations to focus on purchasing Bitcoin on the open market. This move reflects a trend among miners who are facing reduced profitability due to halved rewards and increased network difficulty.

MicroStrategy Plans to Raise $700 Million to Buy More Bitcoin, Influencing Other Miners’ Strategies

Ultramining_Eng

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