Data: MicroStrategy's current market value is nearly three times the value of its 331,200 Bitcoins

Odaily News MicroStrategy (MSTR.O) shares rose 13% on Monday to close at $384.79, having hit a record high earlier in the day. MicroStrategy is reportedly using its soaring stock price to issue a $1.75 billion convertible bond, planning to use the proceeds to buy more bitcoin. Affected by short selling by arbitrageurs before the convertible bond transaction, the company's stock price fell 1% to $381 in after-hours trading. MicroStrategy has a market value of approximately $86 billion, which is currently nearly three times the value of the 331,200 bitcoins it holds. The company is the world's largest corporate bitcoin holder, holding more than 1.5% of the total supply. MicroStrategy believes that purchasing bitcoin through the issuance of shares and convertible bonds has a value-added effect on shareholders. (coinpaper)