$500 million to buy Bitcoin
The post $500 million to buy Bitcoin appeared on BitcoinEthereumNews.com.
MicroStrategy, the company founded by Michael Saylor, has announced the intention to raise 500 million dollars to purchase more Bitcoin. MicroStrategy: Michael Saylor announces the $500 million fundraising to buy Bitcoin Michael Saylor, founder and chairman of MicroStrategy, announced that the business intelligence company is ready for a new $500 million fundraising. “MicroStrategy announces the proposal of a private offering of 500 million dollars of senior convertible bonds $MSTR” The figure of 500 million dollars will be reached through a private offering of senior convertible bonds maturing in 2031. Not only that, MicroStrategy plans to grant the initial purchasers of the notes an option to purchase, within a period of 13 days from the date of first issuance of the notes, up to an additional $75 million aggregate principal amount of the notes. The net proceeds will be used primarily to acquire additional Bitcoin (BTC), as part of MicroStrategy’s long-term accumulation strategy. MicroStrategy by Michael Saylor and the new fundraising to buy Bitcoin (BTC) The sale of the new senior convertible bonds of MicroStrategy will be reserved primarily for qualified institutional buyers pursuant to Rule 144A, without registration under the Securities Act or other jurisdictional securities laws. Not only that, the announcement specifies that the proceeds will mainly be used to finance the acquisition of additional bitcoin and to support general corporate purposes. Last March 2023, Saylor’s company had purchased another 14,620 BTC at the total price of 615.7 million dollars. Moving to April, MicroStrategy had purchased another 122 BTC for 7.8 million dollars, bringing its Bitcoin wallet to a total of 214,400 BTC. The entry into the MSCI World Global Stock Index Looking at May 2024, instead, an important milestone was the entry of the Bitcoin holder company, MicroStrategy, into the global stock index MSCI World. In practice, the…
Filed under: News - @ June 13, 2024 11:10 pm