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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.

MicroStrategy sold $500 Million in debt to buy more bitcoin and the price rises

MicroStrategy sold $500 Million in debt to buy more bitcoin and the price rises

The offering was of secured notes due 2028 that bear interest at an annual rate of 6.125%.

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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

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