MicroStrategy (MSTR) is selling convertible — now raising its projected sale to $700 million worth of notes — to fund the purchase of more bitcoin (BTC-USD). The Market Domination team analyzes MicroStrategy's stock price in relation to the value of its own bitcoin holdings. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.
The analytics software provider is also the biggest publicly traded owner of Bitcoin, with 1.1% of all the supply that will ever be issued.
The proceedings of the issuance will be used to acquire more bitcoin and for general corporate affairs.