New Crypto to 10X as Strategy Plans to Add $42B $BTC
The post New Crypto to 10X as Strategy Plans to Add $42B $BTC appeared on BitcoinEthereumNews.com.
Michael Saylor’s Strategy (formerly MicroStrategy) is now one step closer to adding another $42B worth of Bitcoin ($BTC) to its balance sheet by 2027. Yesterday, Strategy announced a $2B private offering of 0% convertible senior notes, due 2030. Buyers will then be able to convert these notes into cash or MSTR stock. Most importantly, all of the raised funds will go toward $BTC purchases. Strategy’s $BTC bet is paying off, as evident from its stock performance, so more institutional investors may add crypto to their portfolios soon–and not just $BTC. We share the best new crypto to benefit from the upcoming bull run. How Do Strategy’s Convertible Notes Tie Into Its $BTC Plan? Strategy currently holds $45.88B worth of $BTC. On February 10, the company bought 7.6K $BTC for $742.4M at roughly $97K per coin. This brought Strategy’s BTC Yield, a KPI that measures the change in $BTC-to-diluted-share ratio over time, to 4.1%, up 1.2% from January 27. In an official statement, Strategy explained its new convertible notes will not accrue interest, so their principal amount is fixed. The company can redeem its notes for cash starting March 2027, assuming MSTR stock grows at least 130% from now. Investors, too, retain the option to recall their notes at face value from March 1, 2028, or if the company undergoes a fundamental corporate transformation. MSTR price barely reacted to the news–in fact, it dipped 1.1% since yesterday. However, MSTR’s yearly growth of 373% proves Saylor’s strategy is working. BTC Bull Token ($BTCBULL) Celebrates $BTC Rally With Airdrops Growing institutional demand for $BTC is the main factor that drives a broader crypto rally this year. However, not all established altcoins and new crypto on presale will feel the effects equally. BTC Bull Token ($BTCBULL) is one of the best meme coins that…
Filed under: News - @ February 19, 2025 10:27 am