On Dec. 7, Microstrategy announced that it was planning to invest more into Bitcoin, this time up to $400 million in convertible bonds.
- The $400 million from the bonds will be used to buy Bitcoin “pending the identification of working capital needs”
- The company only just invested another $50 million in Bitcoin, bringing its total holdings to 40,824 BTC
- Microstrategy’s repeated investments in Bitcoin have brought it a lot of attention -- President Phong Le said that the company’s profile had risen in an earnings call
- Between Sep. and Dec 2020, the company purchased roughly 24,000 BTC, which has turned into a significant profit as a result of the recent Bitcoin rally
- CEO Michael Saylor has been remarkably bullish about Bitcoin, but does levy some criticism against the market, saying that "awful market data" was holding it back