Bitcoin’s Rise:
Bitcoin’s price has been going up since last year and recently hit over $72,000, reaching a new record high since November 2021.
What MicroStrategy Does:
MicroStrategy is a company that makes software for businesses to help them analyze data and make decisions. But lately, it’s been in the news for buying a lot of Bitcoin.
MicroStrategy’s Bitcoin Holdings:
MicroStrategy has been buying Bitcoin for a while now and owns over 200,000 Bitcoins. They’ve been using money from selling things called convertible notes to buy more Bitcoin.
Recent Bitcoin Purchase:
MicroStrategy recently bought 12,000 more Bitcoins, spending over $800 million. This brings their total Bitcoin holdings to around 205,000 Bitcoins, worth almost $15 billion.
More Bitcoin Buying Plans:
MicroStrategy plans to raise another $500 million by selling more convertible notes, which they’ll use to buy even more Bitcoin.
JPMorgan’s Warning:
Some experts are worried that MicroStrategy is taking on too much debt to buy Bitcoin. They think this could be risky if the Bitcoin market goes down in the future.
Bitcoin’s Current Status:
At the time of writing, Bitcoin’s price was close to $72,500, up 72% so far this year.
