Bitcoin Rises to Record With MicroStrategy Stepping Up Purchases

Bitcoin climbed to a record high for a second consecutive day, with MicroStrategy Inc. accelerating the pace of its massive purchases of the cryptocurrency.

The largest publicly traded corporate holder of Bitcoin announced Wednesday that it was increasing the amount of convertible senior notes it plans to sell to fund additional purchases of the token by almost 50% to $2.6 billion. MicroStrategy, which announced earlier this week that it bought $4.6 billion of the token, owns more than $30 billion.

When combined with other companies who have announced similar plans, the total amount raised by these firms could reach $43 ...