MicroStrategy Buys $584 Million in Bitcoin After Upsizing Stock Offering

Michael Saylor announced that Strategy (formerly MicroStrategy) just purchased $584 million worth of Bitcoin, bringing its total holdings to over 500,000 BTC. Bitcoin is up this morning, and MicroStrategy’s purchase helps build market confidence. However, the firm can only continue these acquisitions through sizable debt obligations. It seems unlikely that Strategy could ever sell off these assets without risking market confidence source: https://beincrypto.com/microstrategy-bitcoin-holdings-surge-with-new-purchase/