MicroStrategy completes $650 million bond sale to finance next Bitcoin purchase
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....
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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....
Michael Saylor announces another $650 million purchase of Bitcoin as it price dips from weekend highs. Business intelligence company MicroStrategy has added to its Bitcoin (BTC) stash, with a purchase of 29,646 BTC for a total of $650 million, an average of around $21,925 per BitcoinCEO Michael Saylor tweeted the news immediately following a pullback in price to $22,247, although it is unclear whether the acquisition coincided with this event.MicroStrategy announced its intention to buy more Bitcoin earlier this month with a $400 million debt security sale to raise funds for the purchase.....
Software intelligence firm MicroStrategy netted more than $1 billion from its latest convertible notes offering. The post At $1 Trillion BTC Market Cap, Microstrategy Completes $1.05 Billion Raise appeared first on Bitcoin Magazine.
The firm initially sought a $400-million bond offering. Software firm MicroStrategy saw $1.6 billion worth of orders in a recent junk bond offering — four times the initially sought amount.Earlier this week, the company announced it would issue $400 million worth of junk bonds in a private offering, with a view to using the proceeds to purchase Bitcoin (BTC). Junk bonds are debt offerings by companies without investment-grade credit ratings and typically offer investors higher returns while carrying higher risk. Returns between 6.125% and 6.25% have been floated for the bonds, eclipsing....
Should the purchase go as planned, the business intelligence firm would hold more than $3.5 billion in Bitcoin as a reserve asset. Following a Tuesday announcement that MicroStrategy would be planning to buy $600 million in Bitcoin through a sale of convertible notes, the business intelligence firm has upped the ante by another $300 million.MicroStrategy said today it would be selling $900 million in convertible senior notes due in 2027 in a private offering to qualified institutional buyers. According to the firm’s estimates, the proceeds of the sale will be roughly $879 million. It....