MicroStrategy Offers $400 Million Of Convertible Notes To Buy More Bitcoin
Software intelligence firm MicroStrategy announced in a press release its intent to privately offer $400 million in convertible senior notes so that it could buy more bitcoin. “MicroStrategy intends to invest the net proceeds from the sale of the notes in bitcoin in accordance with its Treasury Reserve Policy pending the identification of working capital needs and other general corporate purposes,” according to the release. MicroStrategy, led by CEO Michael Saylor, made headlines earlier this year when it invested $250 million to purchase 21,454 bitcoin (about 0.1 percent of....
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The publicly listed company Microstrategy announced that it has plans to purchase more bitcoin after acquiring 71,079 bitcoin during the last six months. On Tuesday, Microstrategy revealed its plans to sell $600 million in convertible senior notes to qualified institutional buyers in order to use the funds for bitcoin. Selling Convertible Notes for Bitcoin At around 7:59 a.m. (EST) on Tuesday morning, Microstrategy (Nasdaq: MSTR) CEO, Michael Saylor tweeted about a new private sale his firm is committing to in order to sell $600 million in convertible senior notes. Microstrategy’s....
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.
Mobile games maker Zynga, known best for Words With Friends and Farmville, has revealed a $750 senior convertible note offering that could potentially end up in Bitcoin. Here are all the oddly coincidental details that mimic the timing of the Michael Saylor-led MicroStrategy convertible note offering that was used to purchase a large sum of the cryptocurrency. Setting A Precedent: MicroStrategy Buys Bitcoin With Convertible Notes A bull market was brewing in Bitcoin whether bears […]
Software firm MicroStrategy has cemented its position as a major Bitcoin player with its numerous large purchases. The company which is valued at $1 billion had put a significant portion of its own funds into buying BTC but the majority of the money used to purchase all of the bitcoin had been from loans. These loans which include convertible notes, senior secured loans, and bitcoin-backed loans account for $2.4 billion of its $3.97 billion BTC purchases. How The Loans Look MicroStrategy had used convertible notes to fund a good portion of its bitcoin holdings. These notes are converted....
MicroStrategy said it intends to offer $600 million aggregate principal amount of convertible senior notes due 2027. This story is developing and will be updated.