Recently, a press release was published. releaseMicroStrategy of Micheal S. Saylor has revealed that they will be raising $500 million in order to buy additional Bitcoins (BTC). The company intends to collect the funds from institutional investors. According to the official release, the firm intends to offer ‘500 million principal amount convertible senior notes due in 2032 “notes”( ) to whom it is reasonably assumed to be institutionally qualified buyers.‘
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MicroStrategy holds the most BTC in the world. On May 1, 2024 the company will have 214,400 BTC worth approximately $7.5 Billion. BTC were purchased by the firm at an average of $35,158.
Will Bitcoin (BTC), Rally?
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MicroStrategy’s BTC is a very bullish asset. Micheal Sally, the firm’s CEO is an outspoken supporter of Bitcoin. The company has rarely wasted its investment and never missed a chance to purchase more BTC. Microstrategy bought 9245 BTCs in March, for $623million. Saylor may have anticipated that BTC will rise in price over the next few months.
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Inflation in the US was lower than anticipated for May. BTC could benefit further from the lower inflation rate.
CoinCodex data suggests that Bitcoin (BTC), could rally in the future. next In a few weeks. Platform predicts that the cryptocurrency will reach a new high-water mark of $76,176 in 2024.
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/06/MicroStrategy-to-Raise-500-Million-For-BTC-Purchase.png)
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/06/MicroStrategy-to-Raise-500-Million-For-BTC-Purchase.png)
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CoinCodex doesn’t expect BTC stop here. Platform expects BTC will reach a peak of $88,096 by June 7, 2024. BTC’s price will increase by nearly 30% if it reaches $88,096, compared to its current levels.
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Source: watcher.guru