MicroStrategy Inc., the largest corporate holder of Bitcoin, proposed increasing its cache of the largest cryptocurrency through the sale of $600 million in convertible senior notes.
The value of Bitcoin holdings on the enterprise software maker’s balance sheet has increased to around $13 billion since the company started purchasing the digital asset in 2020 as part of the effort to hedge inflation. Michael Saylor, MicroStrategy’s co-founder, has become one of the most prominent advocates for the cryptocurrency by turning the software maker into a Bitcoin proxy for stock investors.
