MicroStrategy raises $1.05 billion to buy more Bitcoin

MicroStrategy announced on Friday that it had raised $1.05 billion from its debt offering, the proceeds of which will be channeled into buying more .

On February 16, business intelligence firm, MicroStrategy revealed its plans to raised $690 million from the sales of convertible senior notes. Twenty-hours later, the publicly-traded firm upped its stake to $900 million.

Barely two days after the announcement was made, MicroStrategy has realized $1.05 from the note sales.

The notes carried a 0% coupon and a 50% conversion premium. It sold in a private offering to qualified institutional investors. MicroStrategy noted in a press release that:

The aggregate principal amount of the notes sold in the offering was $1.05 billion, which includes $150 million aggregate principal amount of notes issued pursuant to an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, which the initial purchasers exercised in full on February 18, 2021 and which additional purchase was also completed today.

To date, MicroStrategy has accumulated over 71,000 Bitcoin. With the digital asset now trading at over $53,000, MicroStrategy’s Bitcoin stash is valued at over $3.7 billion.

Continue reading on BTC Peers

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

×