Crypto

MicroStrategy Wants to Buy $ 400 Million Bitcoin (BTC)

Michael Saylor, CEO of MicroStrategy. Source: Youtube / Swan Signal – Bitcoin Channel

One of the most optimistic non-cryptocurrency companies when it comes to bitcoin is an American software developer. MicroStrategytesting the markets, planning to raise more funds to buy … more bitcoins (BTC).

MicroStrategy today announced a proposed US $ 400 million senior secured bond maturing in 2028 to qualified institutional buyers and individuals outside the United States.

“MicroStrategy intends to use the net proceeds from the sale of the Notes to purchase additional bitcoins. […] Approximately 92,079 of MicroStrategy’s existing bitcoins will be owned by the newly formed subsidiary MacroStrategy LLC, ”they said.

This BTC amount currently stands at nearly $ 3.38 billion. At 1:15 pm UTC, BTC is trading at $ 36,680, up 2% on the day and nearly 3% on the week.

Also Read: Michael Sailor: Portrait of a Bitcoin (BTC) Enthusiastic Evangelist.

The Notes will be fully and unconditionally guaranteed by MicroStrategy Services Corporation, which is a wholly owned subsidiary of MicroStrategy, and by some of MicroStrategy’s subsidiaries that may be created or acquired after the close of the offer, as we have learned.

In addition, the Notes and related collateral will be collateralized by virtually all of MicroStrategy’s and Guarantors’ assets, including any bitcoins or other digital assets acquired during or after the closing of the Offer, but that does not occur. ” The company said it does not include existing BTC or BTC and MicroStrategy digital assets acquired with proceeds from existing BTC.

The announcement and subsequent purchase could be very important as it can serve as a test for the market to determine if investors are willing to invest in BTC after a sharp correction last spring.

As reported, on May 13, MicroStrategy said it purchased an additional 271 BTC for $ 15 million in cash at an average price of $ 55,387 per BTC.
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