MicroStrategy sold $500 Million in debt to buy more bitcoin and the price rises
MicroStrategy completed today its $500 million offering of secured notes, according to a statement. The company said it plans to use the proceeds, which it estimates at $488 million — after discounts, comissions and expenses — to buy more bitcoin.
The offering was of secured notes due 2028 that bear interest at an annual rate of 6.125%.
MicroStrategy Completes $500 Million Offering of 6.125% Senior Secured Notes Due 2028 with #Bitcoin Use of Proceeds. @MicroStrategy’s existing approximately 92,079 bitcoins are being held by a newly formed subsidiary, MacroStrategy LLC. $MSTRhttps://t.co/avdKhHDLMH
— Michael Saylor (@michael_saylor) June 14, 2021
— Bitcoin Magazine (@BitcoinMagazine) June 14, 2021
- Ethereum miners outperform Bitcoin miners in May and earn $2.35 billion
- Elon Musk created a bitcoin council and is supporting the cryptocurrency again
- According to research, banks and gold consume twice as much energy as Bitcoin
MicroStrategy reports that currently approximately 92,079 Bitcoins are being held by a newly formed subsidiary, MacroStrategy LLC.
Shares in MicroStrategy popped on the news rising by 12% as of this writing. MicroStrategy’s market cap stands at around $5.65 billion.
At the current price of BTC, they hold approximately $3.74 billion in Bitcoin.
With informations: The Block Crypto