MicroStrategy Increases Its Debt-for-Bitcoin Offering to $500 Million

MicroStrategy has boosted its bond deal to a whopping $500 million.

As reported by U.Today, the Michael Saylor-helmed business intelligence firm announced that it would offer $400 million worth of senior secured notes on June 7.

It is raising debt to acquire more Bitcoin, orchestrating a so-called “speculative attack” on the U.S. dollar.   

At the same time, MicroStrategy is also expecting to log a mammoth impairment loss of $284.5 million.

The largest cryptocurrency is currently trading at $32,219 after plunging to its lowest level since May 19.

The MicroStrategy stock is also down 7.3 percent today, reflecting the relentless cryptocurrency sell-off

The company currently has 92,079 BTC (roughly $2.9 billion) in its coffers.

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