MicroStrategy Wants to Hoard More Bitcoin with $600M Private Offering

2021-2-16 22:17

Virginia-based business intelligence firm MicroStrategy has disclosed plans to launch another private offering. The revenue will be used to buy even more bitcoin (BTC).

MicroStrategy’s proposed private offering for Bitcoin will feature the sale of $600 million in convertible senior notes. Convertible senior notes are low-risk bonds that must be paid before debts if the issuer goes bankrupt. Investors can convert them into shares of the issuer’s common stock.

MicroStrategy will issue these notes to accredited investors along with an option to purchase an “additional $90 million aggregate principal amount of the notes.” 

MicroStrategy Announces Proposed Private Offering of $600 Million of Convertible Senior Notes $MSTRhttps://t.co/pljBkX7jzF

— Michael Saylor (@michael_saylor) February 16, 2021 Proceeds to Go to Additional Bitcoin Purchase

BTC evangelist Michael Saylor is not done filling his bags just yet. His company will buy the additional coins from the net proceeds of the private offering.

Saylor is leading by example after hosting a successful virtual event tagged “Bitcoin for Corporations.” The event was a call for corporations to develop a positive view towards the leading cryptocurrency. It also explored the possibility of bitcoin’s use as a primary reserve asset. The event had over 8,197 attendees from 6,917 different companies. 

MicroStrategy is currently one of the largest institutional BTC holders. The purchase of an additional $600 million worth of BTC would bring its total holdings to about $1.6 billion. Saylor himself holds a large chunk. He revealed in October 2020 that he owns more than 17,730 BTC. 

Saylor’s Pro-Bitcoin Activities 

Despite Saylor’s massive bitcoin investment, he believes regulations will be beneficial towards corporate adoption. He claims that regulations would legitimize the industry and encourage more institutional investors to key in. 

On the unending bitcoin-gold comparison, Saylor sees gold as a riskier asset to hold. This is because the precious metal has an elastic supply while bitcoin’s supply is finite.

He is unarguably one of the biggest bitcoin proponents in the corporate world. He has shown a firm commitment to spreading the word on the digital asset. Saylor even has a 12-hour long course called “Bitcoin for Everybody.” 

MicroStrategy is an active participant in the bitcoin blockchain. The company started running a full node in September last year.  

The post MicroStrategy Wants to Hoard More Bitcoin with $600M Private Offering appeared first on BeInCrypto.

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offering senior private bitcoin convertible notes microstrategy

offering senior → Результатов: 11


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


MicroStrategy повысила предложение по выпуску облигаций до $550 млн

Поставщик аналитического ПО MicroStrategy Inc. объявил новую цель по сбору финансирования для инвестиций в биткоин. Вместо заявленных ранее $400 млн компания рассчитывает привлечь $550 млн. MicroStrategy Announces Pricing of Offering of Convertible Senior Noteshttps://t.

2020-12-9 18:08


Компания MicroStrategy планирует инвестировать еще $400 млн в биткоин

Компания MicroStrategy объявила о планах инвестировать доходы от размещения ценных бумаг на сумму $400 млн в биткоин. MicroStrategy Announces Proposed Private Offering of $400 Million of Convertible Senior Noteshttps://t.

2020-12-10 11:51


MicroStrategy привлечет $400 млн для дополнительных инвестиций в биткоин

Поставщик аналитического ПО MicroStrategy Incorporated объявил о намерении разместить конвертируемые старшие ноты на сумму $400 млн со сроком погашения в 2025 году. MicroStrategy Announces Proposed Private Offering of $400 Million of Convertible Senior Noteshttps://t.

2020-12-8 09:47


Фото:

SEC Sets Up Open Line of Communication for Fintech Projects With FinHub

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