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The idea of Bitcoin reaching $8 million may seem far-fetched to some, but it aligns with Saylor's broader perspective on the asset. He views Bitcoin as a superior store of value and a hedge against inflation, with the potential to attract significant capital from traditional assets.This view has placed MicroStrategy at the forefront of Bitcoin's evolution, now owning 1.1% of the total supply of the world's largest cryptocurrency, valued at around $14.5 billion, in just four years.
The corporation recently announced a $500 million debt sale of convertible notes to increase its Bitcoin holdings. MicroStrategy's long-term convertible debt strategy ensures that it has enough time to benefit from a potential Bitcoin upside while minimizing the cryptocurrency's liquidation risk on its balance sheet.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst.
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