Michael J Saylor, CEO and Founder of Microstrategy, continues to double down on Bitcoin by using $525 million dollars worth of debt. This bold move by Michael Saylor is a display of his conviction to continue to double down on Bitcoin.

Who is Michael J Saylor and what is Microstrategy?

Michael Saylor is the CEO and Founder of Microstrategy, they are the world’s first Bitcoin development company. Microstrategy is a publicly-traded operating company committed to the continued development of the bitcoin network through their activities in the financial markets, advocacy, and technology innovation. Michael Saylor is famous for his conviction on Bitcoin by dedicating himself to always buying the top and believing that Bitcoin is a more superior store of value than any asset.

Leveraging debt to buy more bitcoin

MicroStrategy (MSTR), which is now a Bitcoin Development Company, filed on Wednesday (March 13) afternoon to raise $500 million through a private offering of convertible senior notes due 2031. The company plans to use the money raised to buy an additional 12,000 bitcoin to their current holdings.

In a March 11 post by Michael Saylor on X, Microstrategy has also procured approximately 12,000 bitcoins worth up to or $821.7 million, using the proceeds from the debt raise and excess cash. The 12,000 BTC was purchased at an average cost of $68,477 per bitcoin, placing Microstragy’s bitcoin holdings to 205,000 BTC worth around $14.7 billion

According to Michael Saylor, he will always forever be buying the top of Bitcoin. Microstrategy has been adamant on its stance on Bitcoin as being the supreme store of value as they continue to accumulate more Bitcoin without any signs or intentions to sell.