MicroStrategy’s holdings are just 5,000 BTC shy of 1% of Bitcoin’s theoretical maximum supply
According to Cointelgraph, MicroStrategy has submitted a $500 million application for convertible senior notes this week and plans to use the funds to purchase more Bitcoin. Assuming that the price of Bitcoin remains at its current level of around $73,000, MicroStrategy will be able to purchase 6,800 Bitcoins with the newly raised funds. Currently, MicroStrategy holds 205,000 BTC, only 5,000 BTC away from 1% of the theoretical maximum supply of Bitcoin. If they were to use all of the newly raised $500 million to purchase Bitcoin, their holdings would exceed 1% of the theoretical maximum supply of Bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Anthropic under fire for alleged AI-fabricated citation in copyright lawsuit
Share link:In this post: Music companies claim Anthropic used AI to create a fake academic citation in court. A judge has ordered Anthropic to respond to the allegation, which it calls an unintentional error. This case is part of a larger wave of copyright lawsuits against AI firms over unauthorized use of creative content.
DeFi Just Got Real: JPMorgan Takes a Historic Leap into Blockchain Finance
PRAIUSDT now launched for futures trading and trading bots
'Pixelmon' to Launch 'Warden's Ascent' RPG and Idle Mobile Games on Avalanche—Here’s Why
Trending news
MoreCrypto prices
More
