Microstrategy Plans a $400 Million Capital Raise to Buy More Bitcoin
Microstrategy Inc., said Monday that it is planning to sell $400 million in convertible senior notes to private investors so that it could buy more bitcoin. The Nasdaq-listed business intelligence and mobile software company already holds 40,824 bitcoin (BTC) in reserve, valued at $776 million at current prices of around $19,000 per each bitcoin. On Dec. 4, Microstrategy bought another 2,574 BTC for $50 million, adding to its initial $425 million haul from August and September. The firm holds the largest bitcoin reserves of any publicly traded company, according to bitcointreasuries.org.....
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Microstrategy Inc. has raised $650 million from the sale of convertible senior notes so that it could buy more bitcoin. In a note to investors on Dec. 11, the business intelligence and mobile software firm said it completed the sale of $650 million in convertible bonds to private investors at 0.75% interest per year. The sale was closed just days after Microstrategy made the initial offer, which intended to raise $400 million. Microstrategy plans to use the net proceeds – about $635 million after expenses – to buy bitcoin (BTC). Should the company go ahead with the planned....
Software intelligence firm MicroStrategy, led by CEO Michael Saylor, plans to raise another $600 million to buy even more bitcoin. The post MicroStrategy To Offer Another $600 Million Of Convertible Notes To Buy More Bitcoin appeared first on Bitcoin Magazine.
MicroStrategy is turning to investors to fund up to $400 million more in bitcoin purchases.
The bond sale underscores MicroStrategy's conviction that Bitcoin is a generational investment opportunity. MicroStrategy (MSTR), a leading business intelligence firm, announced Friday that it has raised $650 million worth of convertible bonds to finance more Bitcoin (BTC) purchases, underscoring CEO Michael Saylor’s conviction in the flagship digital asset. The company confirmed Friday that it had sold $650 million worth of convertible senior notes at a rate of 0.750% due in 2025. The interest rate is payable semi-annually on June 15 and December 15 beginning in 2021. According to the....
Bitcoin briefly surged above $50,000 on Tuesday after MicroStrategy announced that it would offer $600 million worth of convertible senior unsecured notes expiring on February 15, 2027, to purchase more of the flagship cryptocurrency. “MicroStrategy also expects to grant to the initial purchasers of the notes an option to purchase, within a 13-day period beginning […]