Strategy Raises $2B for Bitcoin Buying Spree

Strategy, the global leader in corporate bitcoin holdings, has announced plans to raise an additional $2 billion through the issuance of 0% convertible notes. The underwriter has also set aside an option to purchase up to an additional $300 million of the notes, according to a press release.

The funds raised from this offering will primarily be used to acquire more bitcoin (BTC), further solidifying Strategy's position as the world's largest corporate holder of the cryptocurrency. As of now, Strategy holds 478,740 BTC, valued at over $45 billion at current prices.

Michael Saylor, the executive chairman of Strategy, has been a vocal advocate for bitcoin and has led the company's strategic investments in the cryptocurrency. Under his leadership, Strategy has consistently expanded its bitcoin holdings, demonstrating a strong commitment to the digital asset.

The news of Strategy's latest fundraising effort came just after the close of the U.S. stock market on Tuesday. Following the announcement, the price of bitcoin rose modestly, recovering from earlier losses and climbing about 1% to reach $95,000. Despite the slight increase, bitcoin was still down by 1.2% over the past 24 hours.