US software provider turned bitcoin investor MicroStrategy has expanded its cryptocurrency fundraising efforts to more than £7bn since the recent US election, capitalising on bitcoin’s record-breaking price surge.
The company announced on Wednesday it had increased its convertible bond offering from £1.75bn to £2.6bn, leveraging the heightened enthusiasm in digital assets following Donald Trump’s presidential victory. This substantial raise supplements the £4.6bn already secured through a stock sale last week, all of which has been directed towards bitcoin acquisitions.
MicroStrategy’s share value experienced a remarkable 15 per cent surge on Wednesday, reaching an unprecedented peak. The company’s stock has demonstrated extraordinary performance, climbing nearly 900 per cent over the past year.
The aggressive post-election purchasing strategy emphasises the unwavering commitment of executive chair and founder Michael Saylor, who initiated the company’s bitcoin-focused direction in August 2020. The Californian organisation recently unveiled ambitious plans to raise £42bn through shares and debt sales in the coming years, earmarked exclusively for cryptocurrency investment.
The company’s substantial bitcoin acquisitions have played a pivotal role in driving the cryptocurrency’s value to new heights this month, reaching nearly £95,000—a 33 per cent increase since Trump’s election victory. MicroStrategy now holds the distinction of being the world’s largest corporate bitcoin owner, with approximately 331,000 tokens valued at £31bn.
Industry experts view Trump’s victory optimistically, anticipating a “golden age” for cryptocurrency as the incoming administration is expected to implement more lenient regulatory frameworks. This stands in stark contrast to the previous administration’s stringent oversight, which resulted in numerous civil and criminal lawsuits against crypto-related enterprises.
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