Microstrategy, an American technology company, announced yesterday that it has completed raising nearly $650 million to buy more Bitcoin.

in note Addressing investors today, MicroStrategy told the company it closed the sale of $650 million in debt securities.

The sale was valued at $400 million last Monday.

And what I told MicroStrategy:

We intend to invest the net proceeds from the sale of securities, of approximately $634.9 million after discounts, commissions and expenses, in Bitcoin.

Michael Saylor, CEO of MicroStrategy, has become a firm believer in Bitcoin.

MicroStrategy completes offering of $650 million of 0.750% convertible securities due in 2025

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– Michael Saylor (@michael_saylor) December 11, 2020

His company previously bought $500 million of bitcoin in the second half of this year.

He has also been tweeting constantly about bitcoin since he bought it.

Saylor is one of many notable investors who have invested in bitcoin this year as he led his company to buy bitcoins for millions of dollars.

Then a flood of new money came to the crypto arena and there was a renewed interest in Bitcoin on the part of institutional investors.

Early this month, Bitcoin reached an all-time high.

MicroStrategy raised bitcoin investment funds through the sale of debt securities, and therefore MicroStrategy must repay investors at a rate of 0.75% annually, starting in June 2021 and ending in June 2025, unless MicroStrategy buys debt from investors.

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Investors can exchange their bonds by purchasing shares or by way of banknotes.

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