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Bitcoin price continues to find buyers above $67,000, and the previous all-time high level is now within reach. BTC will reach a new all-time high if it rises another $1,500. About 45 minutes ago, Bitcoin hit $67,770. Now, Michael Saylor has burst back onto the scene, announcing a $600 million bond issuance.
Crypto Currency Breaking News
MicroStrategy announced its plan to issue $600 million worth of convertible notes due in 2030 to institutional buyers. The supply will be shaped by market conditions, and if all goes well (as with previous ones), the company will use a significant portion of the proceeds to purchase Bitcoin. With the reality of Bitcoin’s price above $67,000, this is precisely Saylor’s intention.
The company was trading like a proxy Spot Bitcoin ETF before the ETF approval came through in January. Today, BlackRock, which sees over $2.2 billion in ETF trading volume, held a massive amount of MSTR shares on behalf of its clients back in those days. The world’s largest asset management firm, BlackRock, did the right thing and filed for a spot Bitcoin ETF in mid-June 2023. Now, it has reached over $10 billion in BTC reserves, and its clients are showing great interest in this new ETF.
