MicroStrategy has taken $2.4 billion debt to buy Bitcoin

June 7, 2022

Business intelligence and software company MicroStrategy has tripled its bitcoin holdings in the last two years.

The firm held 129,000 BTC at the end of the first quarter of 2022.

Michael Saylor’s firm has taken $2.4 billion debt in total to buy all the bitcoins. 

The current value of MicroStrategy’s bitcoin holdings is over $3.8 billion. 

The firm’s debt structure includes $1.7 billion in senior convertible notes at 0 to 0.75% interest rate, $500 million in senior secured notes at 6%. 

MicroStrategy also took the first of its kind bitcoin-backed loan of $250 million at 4% interest rate. 

The business intelligence firm continues to bet big on Bitcoin despite the ongoing volatile market conditions.