Software intelligence firm MicroStrategy has announced that it will offer $400 million in senior secured notes to buy more bitcoin and that the more than 90,000 BTC it has bought to date will now be held by a subsidiary called MacroStrategy.

“MicroStrategy … today announced that it intends to offer, subject to market conditions and other factors, $400 million aggregate principal amount of senior secured notes due 2028 … in a private offering to qualified institutional buyers,” according to an announcement published by the company. “MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoins.”

The announcement also clarified that the notes will be secured with MicroStrategy’s existing and future senior indebtedness, as well as its guarantors’ assets, including substantial amount of bitcoin it holds as a treasury asset.

“MicroStrategy’s existing approximately 92,079 bitcoins will be held by a newly formed subsidiary, MacroStrategy LLC,” per the announcement.

MicroStrategy has been progressively adopting a Bitcoin standard since it first announced its purchase of 0.1% of all of the bitcoin that will ever exist in August 2020. Its CEO, Michael Saylor, has been an outspoken advocate for the asset and its underlying technology. MicroStrategy’s ongoing BTC accumulation has resulted in significant growth for the business and delighted investors.