MicroStrategy To Raise $400M Via Debt Offering To Purchase More Bitcoin

MicroStrategy To Raise $400M Via Debt Offering To Purchase More Bitcoin
фото показано с : zycrypto.com

2021-6-7 18:17

Virginia-based enterprise business intelligence firm MicroStrategy has announced another significant debt offering so as to help finance the company’s purchase of bitcoin, underscoring chief executive Michael Saylor’s confidence in the bellwether cryptocurrency.

MicroStrategy Plans To Scoop Up An Additional $400 Million Worth Of Bitcoin

MicroStrategy’s bitcoin appetite sees no end. According to a June 7 press release, the company will be conducting a sale of $400 million convertible senior notes in a private offering to “qualified institutional buyers”.

“MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoins,” the company said.

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

Convertible senior notes are essentially financial securities that represent debt in an underlying asset. Bitcoin is the asset in this case, and the holders will have the option to convert the debt security into the stock of the company, cash, or a combination of both at a later date. Such sales are an effective way for a company to raise cash if it can easily afford the interest payments to investors.

MicroStrategy has pulled off this maneuver in the past: it raised a whopping $1.05 billion in February and then promptly used the money to acquire additional bitcoin during the same month.

MicroStrategy Forms New Subsidiary “MacroStrategy LLC” To Manage Its BTC

Under the leadership of CEO Saylor, MicroStrategy became one of the first mainstream companies buying bitcoin. The company first bought 21,454 bitcoins in August last year using its excess cash. MicroStrategy has since become a repeat buyer despite bitcoin’s recent disastrous performance.

A June 7 filing with the United States Securities and Exchange Commission (SEC) reveals that MicroStrategy is expecting to incur “an impairment loss” of roughly $284.5 million related to its bitcoin purchases within three months ending June. This is as a result of the massive bitcoin correction witnessed during Q2 2021.

MicroStrategy currently owns approximately 92,079 bitcoins — worth $3.3 billion at today’s prices. The company has created a dedicated subsidiary, MacroStrategy LLC, to hold its existing BTC treasure trove.

origin »

Bitcoin (BTC) на Currencies.ru

$ 94700.43 (-0.67%)
Объем 24H $53.945b
Изменеия 24h: 3.06 %, 7d: -3.48 %
Cегодня L: $91951.2 - H: $95752.95
Капитализация $1875.428b Rank 1
Цена в час новости $ 35769.5 (164.75%)

purchase microstrategy offering bitcoin debt company bellwether

Источник: zycrypto.com

purchase microstrategy → Результатов: 66


Фото:

Microstrategy Acquires Another $10 Million in Bitcoin, Company Balance Sheet Nears 100K BTC

On Friday, the incorporated and publicly listed business intelligence (BI) firm, Microstrategy announced the company has acquired an additional $10 million in bitcoin. The company’s CEO Michael Saylor revealed the latest purchase on Twitter with a link to a Form 8-K Securities and Exchange Commission (SEC) filing registered on March 5, 2021. Microstrategy’s Bitcoin Buying […]

2021-3-6 19:30


MicroStrategy is Planning on ‘More Creative Ways’ To Purchase Bitcoin

Tens of thousands of Bitcoin (BTC) are not enough for MicroStrategy, looking for “various approaches” to add more Bitcoin as a Treasury reserve asset. Speaking in a virtual conference on the company’s quarterly filings, MicroStrategy CEO Michael Saylor said the company would stockpile its Bitcoin stash using its excess cash as “part of their corporate […] The post MicroStrategy is Planning on ‘More Creative Ways’ To Purchase Bitcoin first appeared on BitcoinExchangeGuide.

2021-1-29 17:17


After advising Elon Musk on BTC strategy, MicroStrategy CEO reveals firm’s purchase of 29,646 Bitcoin

MicroStrategy's CEO Michael Saylor took to Twitter to announce that the firm has purchased an additional ~29,646 Bitcoins for about $650 million “in cash in accordance with its Treasury Reserve PoliThe post After advising Elon Musk on BTC strategy, MicroStrategy CEO reveals firm’s purchase of 29,646 Bitcoin appeared first on AMBCrypto.

2020-12-21 19:00


Saylor Effect: Will Zynga Use Convertible Notes To Buy $750M In Bitcoin?

Mobile games maker Zynga, known best for Words With Friends and Farmville, has revealed a $750 senior convertible note offering that could potentially end up in Bitcoin.   Here are all the oddly coincidental details that mimic the timing of the Michael Saylor-led MicroStrategy convertible note offering that was used to purchase a large sum of the cryptocurrency.

2020-12-15 18:30


Фото:

MicroStrategy’s Bitcoin acquisition stirs panic, industry players proffer strategic solution

MicroStrategy has been on a Bitcoin buying spree since August when it took the cryptocurrency market by surprise, with a Bitcoin purchase of over 21,000 (BTC). In the month that followed, the Business intelligence giant reminded the crypto-landscape that it was just getting started with its long-term Bitcoin acquisition strategy, and acquired 16,766 BTC, another […]

2020-12-10 01:26


Фото:

Citibank Downgrades MicroStrategy Stock Rating Over The Firm’s “Excessive” Bitcoin Focus

Citibank downgraded MicroStrategy stock rating on December 8, citing the business intelligence firm’s recent bitcoin allocations as the key factor. Specifically, Citi analyst Tyler Radke lowered MicroStrategy’s stock from a “neutral” to a “sell” soon after the company announced that it was planning to raise $400 million in order to purchase more bitcoin. Radke noted […]

2020-12-10 20:10


Фото:

MicroStrategy to Offer $400 Million in Bonds to Buy More Bitcoin

Business intelligence firm MicroStrategy is doubling down on its Bitcoin holdings. The firm now plans to extend $400 million of convertible bonds to purchase more of the BTC. MicroStrategy Will Raise $400 Million Just to Buy Bitcoin According to a press release from MicroStrategy, the company will raise $400 million worth of convertible senior notesRead MoreRead More.

2020-12-9 00:00


Фото:

MicroStrategy Announces Private $400 Million Investment Round to Purchase More Bitcoin

MicroStrategy CEO Michael Saylor, an ex-Bitcoin bear turned bull, has already invested hundreds of millions of dollars of the company’s reserve treasury into Bitcoin. As both Saylor and MicroStrategy see it, Bitcoin is a strong store of value and hedge against inflation that will likely outperform the dollar long-term.

2020-12-8 15:08


дальше еще 17 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Under Pressure: Could The Slide Continue?

Bitcoin price extended losses and traded below the $100,000 zone. BTC is showing bearish signs and might continue to move down toward the $91,200 support zone. Bitcoin started a fresh decline from the $100,000 resistance zone.

Bitcoin Decline Continues: Are Bulls Losing Control?

Bitcoin price extended losses and traded below the $100,000 zone. BTC is struggling and might continue to move down toward the $92,000 support zone. Bitcoin started a fresh decline from the $102,000 resistance zone.

Bitcoin Price Struggles at $100K: Is The Rally Losing Steam?

Bitcoin price struggled to clear the $102,000 resistance zone. BTC is correcting gains and might test the $97,500 support zone. Bitcoin started a downside correction from the $102,000 zone. The price is trading above $98,000 and the 100 hourly Simple moving average.