Less than a week after announcing the offering, business analytics firm MicroStrategy, which owns more bitcoin than any other corporation in the world, has raised $500 million in bonds to acquire more of the world’s largest cryptocurrency—signaling institutional investors are still optimistic about the coin’s future as it pares back losses from a crash last month.

Key Facts

Virginia-based MicroStrategy said Monday morning it completed a $500 million offering in secured notes due 2028, more than its $400 million target announced last week.

MicroStrategy says net proceeds from the sale (after deducting commissions and other expenses) will be approximately $488 million, all of which it will use to acquire additional bitcoin.

In a sign of massive interest from institutional investors, the firm reportedly received more than $1.5 billion in orders for the offering, which