MicroStrategy Already Raised $1.05 Billion to Put It Into Bitcoin

News
Fri, 02/19/2021 - 15:36
article image
Alex Dovbnya
MicroStrategy has successfully raised $1.05 billion to put even more cash into Bitcoin
MicroStrategy Already Raised $1.05 Billion to Put It Into Bitcoin
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Virginia-headquartered business intelligence firm MicroStrategy has already raised a staggering $1.05 billion from the sale of zero percent convertible notes:

The aggregate principal amount of the notes sold in the offering was $1.05 billion, which includes $150 million aggregate principal amount of notes issued pursuant to an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, which the initial purchasers exercised in full on February 18, 2021 and which additional purchase was also completed today.

As reported by U.Today, the company initially announced its $690 million offering on Feb. 16 before increasing it to $1.05 billion the following day.

Last December, MicroStrategy successfully raised $650 million in debt securities and invested it into Bitcoin within the same month. 

The public company currently holds 71,079 BTC, worth $3.8 billion.

article image
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.