MicroStrategy continues to expand its billion-dollar Bitcoin 
$89,988 reserve through borrowing. Recently, the company’s private bond issuance surpassed 800 million dollars. It pays investors in long-term interest by issuing bonds, utilizing the cash acquired to purchase Bitcoin and cover operational expenses.
Why is Bitcoin Declining?
The Bitcoin price during the preparation of this article was related to the announced purchase. The company bought 7,240 BTC for 458 million dollars between September 13 and 19. As experienced in previous announcements, the announcement of this purchase led to a drop in BTC prices. However, previous declines have been short-lived, and a recovery in price is expected.
The price quickly fell from the 63,400 dollar level to the 62,800 dollar range, dropping to yesterday’s daily closing area. It is hoped that the 62,700 dollar mark will be maintained as support. With this latest purchase, the company’s holdings now include 252,220 BTC, valued at 9.9 billion dollars, with an average cost of 39,266 dollars.
