Updated:05:43 PM EST Feb 25


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Bitcoin Price Breaks $50,000 Barrier - [briefly]
08:57 AM EST - Feb,16 2021 - post a comment

Bitcoin's price has broken the $50,000 barrier, reaching as high as $50,560, on the news that MicroStrategy will sell $600 million of convertible senior notes to buy more Bitcoin. The business intelligence firm said today that it intends to sell these notes to institutional investors. The firm intends to use the net proceeds from the sale to acquire more Bitcoin. That would be in addition to the 71,079 BTC it already owns-at a current value of $3.5 billion. The firm added that it will allow investors the option to purchase an additional $90 million of notes, which the firm will also use to buy more Bitcoin.

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