MicroStrategy to Acquire $ 400 Million in Bitcoin (BTC)

Microstrategy to Acquire $ 400 Million in Bitcoin (BTC)

MicroStartegy the pioneer in business intelligence and analytic solutions announces acquiring even more Bitcoin (BTC). The finance will be through its new secured notes sale proceedings. It estimates acquiring about $400 million as BTC.

The Announcement

MicroStrategy is one of the largest firms on platforms of business intelligence, embedded analytical systems, mobile software developments, and hyper-intelligence improval of vendors, etc. Being a company based purely on technology and machine learning, it has been active in the crypto industry since 2020. MicroStrategy announced today its plan to further produce more secured notes of $400 million throughout due till 2028. It further stated the release of two of its new subsidiaries, MicroStrategy Services Corporation and MacroStrategy LLC. 

This announcement was made officially through a press release on their official site. 

The CEO of MicroStrategy, Michael Saylor stated both MicroStrategy Services Corporation and MacroStrategy LLC are subsidiaries under MicroStrategy. MicroStrategy Services Corporation will be involved in guaranteeing the issue of new notes and further securing them by converting them to Bitcoins. This will be done only on a seniority basis, depending upon the notes secured. MicroStrategy Services Corporation will play the role of acquiring new BTCs from the proceeds of the debt of secured notes. 

Only the new BTCs acquired will be secured in MicroStrategy Services Corporation. All the previously owned BTCs of MicroStrategy will be held by MacroStrategy LLC. Thus depicting the role of the MacroStrategy under MicroStrategy. 

Saylor’s Views and the Future

Saylor put forth this new idea that will make MicroStrategy prosper extraordinarily. MicroStrategy will thus grow, along with BTC towards the future. This is a brilliant move in which the debts through the secured notes are used to buy bitcoins. MicroStrategy already has assets of about $3.4 billion worth of bitcoins amounting to 92,078 BTCs. 

Saylor further views this new move will mitigate the recent loss of about $284.5 million incurred upon MicroStrategy’s BTC holdings. Bitcoin suffered a staggering 45% downfall from $60k to its present at $36k, falling even to $32k in between throughout the past  3 months.

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A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.