MicroStrategy once again adds $100 million to its previous $400 million to its finance of Bitcoin (BTC) through its secured notes. The debt now accounts for $500 million in total as through the secured notes. This will be invested to acquire more Bitcoin (BTC) for the firm.
Newer Announcement
The business intelligence and analytic solutions whale once again puts forth another announcement. This has now created an even more positive bang throughout the crypto world. MicroStrategy remains the talk of the town for the 4th day consecutively, ever since its previous announcement.
MicroStrategy has now increased the bond value from $400 million to $500 million upon the secured notes. This was announced officially yesterday upon its official site. Furthermore, they state, the increase of $100 million is to satisfy the growing investor demands and requests. The new secured notes now will be produced for a whopping $500 million. The sale of these secured notes throughout will be used to acquire Bitcoin (BTC).
According to sources from Bloomberg, MicroStrategy has come up with this decision based upon the investors’ demands. The company has so far received more than 1.6 billion orders and most of these were offshore investment firms and private limited partnerships. All these orders are a result of the yearly interest of 6.125%. Nevertheless, to mention all the credits go to the impeccable value of Bitcoin (BTC).
Proliferating Future
The whole strategy is being led by the CEO of MicroStrategy, Michael Saylor. The Bitcoin geek seeks a proliferating future through this for MicroStrategy. He will be adding more BTC to his previous pile of 92,078 BTCs. Upon the recent downfall and bearish season of Bitcoin, MicroStrategy lost about $284.5 million. Accordingly, Bitcoin’s price drop has impacted MicroStrategy profusely.
Despite this, Saylor is all confident over his idea by overcoming these losses by acquiring more BTCs. The sale proceeds of the new secured notes accounting for $500 million, will be used to acquire more BTCs. Many investors keep pouring in interest upon securing these debt bonds, making MicroStrategy in all smiles.
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