MicroStrategy Raises More Debt to Buy More Bitcoin Amid Market Uncertainty
MicroStrategy's stock price has taken a hit after the company announced plans to raise another $400 million in debt to buy more Bitcoin.
This move is seen as a vote of confidence in the cryptocurrency, but it hasn't sat well with investors on Wall Street.
Analysts have warned that MicroStrategy's investment strategy, which involves using borrowed money to purchase Bitcoin, is a 'rare high-risk, low-reward investment opportunity', and a strong sell.
The company has accumulated 92,079 BTC so far, which it plans to transfer into a separate subsidiary called MacroStrategy.