Microstrategy Selling $400M Bonds to Buy Bitcoin — Holding to Exceed 100,000 BTC
Microstrategy will soon hold more than 100,000 bitcoins in its treasury. The company is raising $400 million by selling senior secured notes and will use the proceeds to acquire additional bitcoins. Microstrategy Acquiring More Bitcoin Microstrategy Inc. (Nasdaq: MSTR) announced Monday it intends to offer $400 million of “senior secured notes due 2028” in a private offering to qualified institutional buyers. The company detailed: The notes will be fully and unconditionally guaranteed on a senior secured basis, jointly and severally, by Microstrategy Services Corporation, a....
Related News
Michael Saylor announced plans to offer convertible bonds with the express intent to buy BTC. The community reacts.
MicroStrategy is one of the loudest crypto advocates listed on Wall Street. Now, the Michael Saylor-led company is engaging in one of the first-ever corporate bond sales that specifically earmarks the proceeds for Bitcoin purchases. MicroStrategy’s Strategy? Buy The Dip After initially planning to issue $400M of the debt, by the time the deal was […]
MicroStrategy is turning to investors to fund up to $400 million more in bitcoin purchases.
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....
China Construction Bank, one of the “big four” banks in China, is selling $3 billion in bonds that can be paid for with bitcoin. The bonds will be listed on a regulated Malaysian digital asset exchange. Beijing-based China Construction Bank (CCB) is selling $3 billion in bonds for bitcoin and U.S. dollars through its unit in Malaysia, the South China Morning Post reported Wednesday. This is the first digital security issued by a Chinese bank on a blockchain, the publication added, noting: The deal also allows investors to trade these China Construction Bank’s digital....