Bitcoin jumped past the $50,000 barrier to touch a record high of $50,560 on Tuesday. MicroStrategy is to sell $600 million of senior convertible notes to buy more bitcoin fueled the surge in the digital token.

  • MicroStrategy will also allow investors to purchase an additional $90 million of notes, which it will use to buy more bitcoin.
  • MicroStrategy already holds 71,079 BTC at a current value of $3.5 billion.
  • Bitcoin’s rally in recent days was also fueled by Tesla’s $1.5 billion investment, which saw the cryptocurrency’s price rise from $38,900 to $50,000, representing a 30% gain.
  • Other companies, including PayPal have entered into the cryptocurrencies industry, which has fueled the surge.
  • The recent bitcoin rally is proof that corporate and institutional investors are confident enough to make significant capital allocations to the digital token.
  • Analysts expect bitcoin to continue the upsides if big institutions continue pouring money into the cryptocurrency.

Bitcoin is currently gaining. BTCUSD is up 1.74%