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MicroStrategy About to Pump $500 Million Into Bitcoin After Completing Massive Debt Offering

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Mon, 06/14/2021 - 13:39
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Alex Dovbnya
MicroStrategy has completed its latest debt-for-Bitcoin offering
MicroStrategy About to Pump $500 Million Into Bitcoin After Completing Massive Debt Offering
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MicroStrategy has already raised $500 million via senior secured notes due in 2028, according to its June 14 press release.

As reported by U.Today, the business intelligence firm initially announced a $400 million debt-for-Bitcoin offering on June 7 and then upped the ante to the above-mentioned $500 million.       

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Bitcoin Surpasses $40K for the First Time in More Than Two Weeks

The net proceeds from the sale ($487.7 million) will be used for buying more Bitcoin.

Presently, MicroStrategy holds 92,079 BTC ($3.7 billion) in its recently formed MacroStrategy LLC subsidiary.     

Earlier today, the largest cryptocurrency revisited the pivotal $40,000 level following bullish comments made by billionaire Paul Tudor Jones. It is currently trading at $40,720.   

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.