- The sale of these notes represented an increase from an earlier offering of $1.75 billion.
- The deal is targeted to complete on November 21 assuming all the closing requirements are met.
A positive outlook for Bitcoin’s ability to reach $100,000 is indicated by MicroStrategy’s announcement that it has upped its forthcoming note offering to $2.6 billion. The biggest Bitcoin holder among corporations, MicroStrategy, is planning to acquire further BTC to the tune of $2.6 billion via zero-interest senior convertible notes.
According to a statement released by the business on November 20th, the sale of these notes represented an increase from an earlier announcement of an offering of $1.75 billion in aggregate principal amount of notes. “Qualified institutional buyers” are the intended recipients of the $2.6 billion offering. And the deal is targeted to complete on November 21 assuming all the usual closing requirements are met.
Eyeing Further Bitcoin Gains
The selling of MicroStrategy’s notes has the potential to propel the price of Bitcoin beyond $100,000. A milestone never before achieved. Bitcoin has risen more than 37% in the last month, and achieved new all-time highs recently.
Approximately $2.58 billion, or up to $2.97 billion if the initial buyers acquire the maximum number of additional notes, is what MicroStrategy predicts the transaction will bring in. The company has said that it would utilize the money for business reasons and to buy more Bitcoin. Bitget Research’s principal analyst Ryan Lee is among many who believe Bitcoin will hit $100,000 by the month’s end.
The positive infusion of capital into Bitcoin exchange-traded funds (ETFs) is also adding fuel to the fire. According to statistics compiled by Farside Investors, US spot Bitcoin ETFs saw a net inflow of more than $816 million on November 19th. During the trading week of November 11–15, US Bitcoin ETFs received more than $1.67 billion. Marking their sixth week in a row of net positive inflows.
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