Friday, May 7, 2021
Home Crypto News Market Microstrategy To Raise Additional $600 Million To Buy Bitcoin

Microstrategy To Raise Additional $600 Million To Buy Bitcoin

- Advertisement -

Analytical software provider MicroStrategy Inc. has announced the next round of sales of $600 million of convertible bonds maturing in 2027.

The buyers of the securities will be accredited investors. The company will use the funds to buy Bitcoins.


MicroStrategy will offer convertible notes without collateral. Interest on them will be paid every six months, starting in August 2021.

The maturity date will come on February 15, 2027, if the company does not buy back or convert the securities earlier. After February 20, 2024, MicroStrategy may buy back all or part of the notes.
The securities will be converted into cash, Class A ordinary shares, or a combination of these assets.

MicroStrategy also plans to give initial bond buyers a buy option within 13 days of the first issue. It includes additional notes of up to $90 million. The company said that the final offer depends on a number of conditions.

 

The price of Bitcoin has updated the historical all time high, breaking the $50,000 mark.

In December 2020, the MicroStrategy announced its intention to raise $400 million for additional investments in digital gold (BTC) through a bond offering. MicroStrategy later raised the offer to $550 million.

FTX US

Recall that in February 2021, the MicroStrategy additionally purchased 295 BTC with a total value of $10 million. In total, MicroStrategy owned 71,079 BTC.

- Advertisement -
Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Bitmain Placed An Order With TSMC to Produce 5nm Chips for Crypto Mining

As Bitcoin and Ethereum reach record high prices, miners can increase their spending on equipment, and companies developing ASICs for mining do not waste...

Cardano CEO: May Will Be A Big Month For Us As We Are Now Leading The PoS World

Last few months of Cardano included Updates, upgrades, improvements and implementations. Cardano seem to be pretty much sticking to their roadmap.

Ripple Recent Q1 2021 Reports Shows Increase In Demand For XRP

Ripple released its quarterly report that highlighted the growing demand for XRP in the first quarter of 2021. The company's total XRP sales reached...

NEM Gets Stronger AS NEM Ventures Announced Mentoring & Financial Support Program “Ignite”

NEM Ventures, the investment division of NEM (XEM), announced that it will start the mentoring & financial support program "Ignite". ...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.

follow us in feedly