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MicroStrategy Plans to Buy $2,000 Bitcoin Per Second

  • Data analytics company MicroStrategy said it will buy Bitcoin.
  • As per the firm, they will purchase the Bitcoin from their $1.03 billion gained after their debt offering sales.

Last Friday, business intelligence firm MicroStrategy ended its debt offering. Through the debt offering sales, the company raised over $1.03 billion as their interest.

According to the firm’s CEO Micheal Saylor, they are planning to make a purchase of over $2,000 Bitcoin per second using the proceeds of the mentioned debt offering sale. When this happens, the Saylorbot will use a minimum of 10 working days to execute the BTC purchase according to the company.

If MicroStrategy will go through with its plan to buy $2,000 Bitcoin per second, there is a prediction that it will push BTC to a new all-time high. Earlier, MicroStrategy bought Bitcoin through Coinbase Pro. Looking at this, many believe that the company will again make their second purchase via the said exchange.

Meanwhile, MicroStrategy announced earlier that it bought $600 million worth of Bitcoin. In line with the purchase, the company detailed that anyone who will trade at the initial stage will be privileged to purchase over $90 million worth of notes.

The Bitcoin market is predicted to be bullish this year as many companies continue to buy. At the time of writing, Bitcoin price was about $57,3 and a 24-hour trading volume of $71,17 according to CoinGecko data.

Collins Adane

Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.

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