Post-obit a Tuesday announcement that MicroStrategy would be planning to purchase $600 meg in Bitcoin (BTC) through a sale of convertible notes, the business organization intelligence house has upped the ante past another $300 one thousand thousand.

MicroStrategy said on Wednesday information technology would exist selling $900 million in convertible senior notes due in 2027 in a private offering to qualified institutional buyers. According to the firm's estimates, the proceeds of the auction volition be roughly $879 meg. Information technology added, however, that it could be every bit high as $1 billion "if the initial purchasers practise in full their choice to buy boosted notes."

The business intelligence firm said it expected to close the offering on Fri, at which fourth dimension it would "larn additional Bitcoin." With the price of Bitcoin reaching an all-time high of more than $51,000 on Wednesday, MicroStrategy could before long have an additional 19,000 BTC in its coffers.

MicroStrategy's initial $250-million Bitcoin investment in Baronial 2020 has more than doubled, given the crypto asset's recent bull run. The business organisation intelligence firm has since purchased sixteen,796 BTC for $175 meg in September 2020, then 29,646 BTC for $650 million through the issuance of bonds in December 2020. In addition, the business firm bought 314 Bitcoin for $10 million in late January, and 295 BTC for $ten 1000000 earlier this month.

Should the purchase go according to programme, the business intelligence firm will hold more than $3.5 billion of the crypto nugget in its reserves, or roughly 90,000 BTC. This would mean the company would command 0.48% of Bitcoin'south circulating supply.