Bitcoin reached its highest level in more than two weeks, lifted by MicroStrategy’s bond offering and an Elon Musk tweet
Bitcoin reached its highest level in more than two weeks Monday, buoyed by MicroStrategy Inc. completing itsto buy bitcoin and by fresh comments from Tesla Inc. Chief Executive Elon Musk.
The world’s largest cryptocurrency by market value traded as high as $41,046.77—a nearly 11% rise from its Friday level at 5 p.m. ET.MicroStrategy said in a securities filing on Monday that it raised $488 million from its bond sale, an increase from the $400 million it initially planned. The funds will be used to purchase additional bitcoin.
The company has been a longtime investor in the cryptocurrency, and this was its third bond sale to purchase bitcoins in less than a year.
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