Saylor’s Strategy Buys More Bitcoin With Proceeds From Bond Offering

Strategy, the self-styled Bitcoin treasury company that until recently was known as MicroStrategy, said it acquired $1.99 billion more of the cryptocurrency with the proceeds from last week’s convertible bond sale.

The enterprise software company turned leveraged Bitcoin proxy controlled by co-founder and Chairman Michael Saylor has been buying Bitcoin almost on a weekly basis since late October. The most recent purchase is the fifth-largest by the company since it began buying Bitcoin in 2020. It sold $2 billion in convertible notes last week to help fund additional purchases.