Michael Saylor’s MicroStrategy raising another $500 million to buy more Bitcoin

On Wednesday afternoon, MicroStrategy (MSTR) filed to raise $500 million in a convertible debt offering, with intentions to use the proceeds to purchase more Bitcoin (BTC).

The company only days ago closed on an $800 convertible debt raise, with those proceeds plus some dollars already in the bank used to acquire another 12,000 Bitcoin for $821.7 million.