Cryptocurrency News

Microstrategy Selling $400 Million Bonds to Buy Bitcoin – Holding Over 100,000 BTC – Featured Bitcoin News

Microstrategy will soon have more than 100,000 bitcoins in its treasury. The company is raising $400 million by selling senior secured notes and will use the proceeds to acquire additional bitcoins.

Micro strategy to get more bitcoins

Microstrategy Inc. (Nasdaq: MSTR) announced Monday that it intends to offer $400 million of “senior secured notes due by 2028” in a private offering to qualified institutional buyers. Company wide:

Notes will be fully and unconditionally guaranteed on a senior secured basis by MicroStrategy Services Corporation, a wholly owned subsidiary of MicroStrategy, and certain subsidiaries of MicroStrategy, jointly and severally on a senior secured basis, created or acquired after the closing of the Offering. can be done.

The company further explained that “Notes and related guarantees shall be secured by the security interests of all Microstrategy and Guarantors’ assets, including any bitcoin or other digital asset, on a senior secured basis with existing and future senior indebtedness of MicroStrategy.” earned on or after the conclusion of the offering.”

However, “existing bitcoin as well as bitcoin and digital assets derived from existing bitcoin” will not be used to secure notes, MicroStrategy clarified, elaborating:

Microstrategy’s current approximately 92,079 bitcoins will be held by a newly formed subsidiary, Macrostrategy LLC. Microstrategy intends to use the net proceeds from the sale of the notes to obtain additional bitcoins.

in bitcoin current price Out of $36,116 at the time of writing, $400 million of Microstrategy will acquire more than 11,075 B T c. This means that the company’s cryptocurrency stash will grow to over 103,154 bitcoins.

What do you think about Microstrategy’s bitcoin stash with over 100K bitcoins? Let us know in the comments section below.

image credit: Shutterstock, Pixabay, WikiCommons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation or recommendation or endorsement of an offer to buy or sell any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the Company nor the author is responsible, directly or indirectly, for any damage or loss alleged to be caused by or in connection with the use or reliance on any materials, goods or services mentioned in this article.

Source link

Avinash is a blogger, Enterprenuer, marketer and author. He is very good affiliate marketer and Product Reviewer.