MicroStrategy Sells $650m Bond To Buy BTC

Plus BTC whale wallets hit new all time high!

Happy Friday

The Lede

The madman. The absolute madman. Just when you thought he was done, MicroStrategy’s Michael Saylor announced this week that the company was offering up to $400m in convertible debt in order (of course) to go buy more bitcoin.

Then it went up to $550m based on demand.

Then it went up to $650m and closed.

Yes, MicroStrategy has raised $650m with the express intent to go buy more bitcoin. This will bring their total spend on bitcoin over a billion dollars.

This isn’t the ETF we want, but maybe it’s the ETF we deserve.

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Community Commentary

The big question
This is a fun test!

A Really Big Number We Should Be Paying Attention To


That’s the number of wallets with more than 1000 BTC, a 17% increase from last year

Final Thought

We do sound like that.