American business intelligence and software firm MicroStrategy has revealed its plan to raise $500 million to buy additional Bitcoin (BTC).
MicroStrategy Is Extremely Bullish On Bitcoin
According to the recent press release, the firm aims to raise this fund through private issuance of Convertible Senior Notes with a 2032 maturation date This move solidifies the company’s dedication to the digital coin as a treasury reset asset.
The firm’s dedication to Bitcoin sets it apart from its peers. It has consistently seized opportunities to acquire large amounts of cryptocurrency since August 2020.
MicroStrategy co-founder and Chairman Michael Saylor has often emphasized Bitcoin’s potential to outperform traditional assets and serve as a hedge against inflation. In April, the firm added to its Bitcoin holdings with a $7.8 million purchase.
Currently, MicroStrategy stands as one of the largest institutional holders of the cryptocurrency owning 214,400 BTC. This holding outstrips that of the United States, the largest country holder with 207,189 BTC.
Bitcoin as a Treasury Asset Reserve
Besides MicroStrategy, other crypto firms, institutions, and investors are exploring Bitcoin as a treasury reserve asset. This trend reflects a growing interest in diversifying treasury holdings and benefiting from crypto asset resurgence.
Recently, DeFi Technologies joined the bandwagon of corporate Bitcoin advocates to declare the digital asset as its Treasury Reserve Asset. Furthermore, BTC has garnered bullish sentiments from individual investors and crypto experts based on its value and stability.
Over the years, Robert Kiyosaki, the author of “Rich Dad Poor Dad,” has gained popularity for his unwavering support for Bitcoin. Jack Dorsey shared this sentiment when he predicted in May that the digital asset would reach $1 million soon.
Among the many Bitcoin advocates, Robert Kiyosaki is a strong advocate for more investment in Bitcoin compared to traditional assets. Andrew Tate appears to have taken Kiyosaki’s advice to heart as he recently announced plans to buy $100 million worth of BTC.
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