Friday, July 30, 2021
Home Crypto News Market MicroStrategy Issued $650 Million In Bonds To Buy BTC

MicroStrategy Issued $650 Million In Bonds To Buy BTC

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MicroStrategy sold more bonds than initially planned. Now $650 million will be allocated for the purchase of Bitcoins. Previous news was that Microstrategy was planning to buy 450 million worth of BTC.

It was initially planned that MicroStrategy would issue a convertible loans in the form of $400 million of bonds, then $550 million, but in the end, it turned out that they issued $650 million in bonds to buy BTC. As planned, all funds raised from the sale of bonds will be used to purchase Bitcoins.

The $400 million bond sale took place on December 9, and additional securities were sold on December 11. It is not yet known which companies participated in the bond purchase. The securities maturity date is set for 2025.

At the current rate, MicroStrategy will be able to buy another 35,500 BTC. After the purchase of more than 40,000 BTC is stored in the company’s wallets, the total number of bitcoins in the company’s assets will reach 76,000. At current prices, this is more than $1.3 billion.

Recall that in mid-August, MicroStrategy bought bitcoins for $250 million, and then invested another $175 million in BTC. In early December, another $50 million was invested in Bitcoins.

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Albert Brownhttps://thecryptobasic.com/
Albert Brown has obtained his master's degree in Stock Trading And Investing. His specialty is analyzing the price actions of crypto and stock markets. Albert provides a major role in TheCryptoBasic as a crypto analyst. He is also known for his work on Twinkle Magazine and TipRanks.

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