Although MicroStrategy has already allocated more than billion in the primary cryptocurrency, the business intelligence giant has no plans to stop buying. The firm announced plans to offer 0 million worth of senior secured notes due 2028 and to allocate the raised funds in BTC again. Ever since its initial purchase worth hundreds of millions of dollars in August 2020, the NASDAQ-listed software giant has only doubled down on its BTC involvement. The latest endeavor came earlier today, as the firm’s CEO, Michael Saylor, announced on Twitter. MicroStrategy Announces Proposed Private Offering of 0 Million of Senior Secured Notes to acquire additional #bitcoin. $MSTRhttps://t.co/ilhUt1M73j — Michael Saylor (@michael_saylor) June 7, 2021 The statement reads that the
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Although MicroStrategy has already allocated more than $2 billion in the primary cryptocurrency, the business intelligence giant has no plans to stop buying. The firm announced plans to offer $400 million worth of senior secured notes due 2028 and to allocate the raised funds in BTC again.
- Ever since its initial purchase worth hundreds of millions of dollars in August 2020, the NASDAQ-listed software giant has only doubled down on its BTC involvement.
- The latest endeavor came earlier today, as the firm’s CEO, Michael Saylor, announced on Twitter.
MicroStrategy Announces Proposed Private Offering of $400 Million of Senior Secured Notes to acquire additional #bitcoin. $MSTRhttps://t.co/ilhUt1M73j
— Michael Saylor (@michael_saylor) June 7, 2021
- The statement reads that the company “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.”
- The notes will be “fully and unconditionally guaranteed on a senior secured basis, jointly and severally, by MicroStrategy Services Corporation.”
- Furthermore, the company plans to use the net proceeds from the sale to “acquire additional bitcoins.”
- It’s worth noting that this would not be the first similar initiative the company has taken to allocate funds in the primary cryptocurrency. Earlier this year, the firm raised $1 billion and bought BTC with it.
- After the latest purchase completed in mid-May, MicroStrategy owns 92,079 bitcoins acquired for $2.250 billion at an average price of $24,450 per bitcoin.