Data: MicroStrategy has a market value of about 86 billion US dollars, which is nearly three times the value of its holdings of 331,200 Bitcoins
MicroStrategy's (MSTR.O) stock price rose 13% on Monday, closing at $384.79, hitting a record high earlier in the day. It is reported that MicroStrategy is leveraging its soaring stock price to issue convertible bonds worth $1.75 billion, planning to use the proceeds to purchase more Bitcoin.
Affected by short selling of arbitrageurs before the convertible bond transaction, the company's stock price fell 1% in after-hours trading to $381. MicroStrategy has a market value of about $86 billion, nearly three times the value of its holdings of 331,200 Bitcoins. The company is the world's largest corporate holder of Bitcoin, holding over 1.5% of total supply. MicroStrategy believes that purchasing Bitcoin through issuing stocks and convertible bonds has an added value effect for shareholders.
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