BREAKING: MicroStrategy Raises $1 Billion to Buy More Bitcoin
Institutional investors are becoming more bullish on the future trajectory of Bitcoin, piling up their reserves.
One of those corporations is Michael Saylor’s MicroStrategy, which announced that it just raised $1.01 billion at 0.625% interest rate to buy more Bitcoin .
MicroStrategy, a prominent corporate analytics and Bitcoin investment firm, initially revealed plans to issue $700 million of convertible senior notes due in 2028 through a private placement.
The unsecured notes, sold privately to qualified institutional buyers, will mature on September 15, 2028, and bear interest payable semi-annually starting March 15, 2025.
READ MORE:
Japan Holds Rates Steady, Bitcoin Surges Amid Market OptimismThe conversion rate is set at approximately 5.4589 shares per $1,000, giving a conversion price of about $183.19 per share, which is a 40% premium over recent stock prices.
The company plans to use the proceeds to fully redeem its $500 million in outstanding senior secured notes and acquire additional Bitcoin, enhancing its cryptocurrency holdings.
Following the redemption, all collateral tied to the senior secured notes, including around 69,080 Bitcoins, will be released.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Economic Truth: AI Drives Growth Alone, Cryptocurrency Becomes a Political Asset
The article analyzes the current economic situation, pointing out that AI is the main driver of GDP growth, while other sectors such as the labor market and household finances are in decline. Market dynamics have become detached from fundamentals, with AI capital expenditure being key to avoiding a recession. The widening wealth gap and energy supply are becoming bottlenecks for AI development. In the future, AI and cryptocurrencies may become the focus of policy adjustments. Summary generated by Mars AI This summary was generated by the Mars AI model, and its accuracy and completeness are still in the process of iterative improvement.
AI unicorn Anthropic accelerates IPO push, taking on OpenAI head-to-head?
Anthropic is accelerating its expansion into the capital markets, initiating collaboration with top law firms, which is seen as an important signal toward going public. The company's valuation is approaching 300 billions USD, and investors are betting it could go public before OpenAI.
Did top universities also get burned? Harvard invested $500 million heavily in bitcoin right before the major plunge
Harvard University's endowment fund significantly increased its holdings in bitcoin ETFs to nearly 500 million USD in the previous quarter. However, in the current quarter, the price of bitcoin subsequently dropped by more than 20%, exposing the fund to significant timing risk.
The Structural Impact of the Next Federal Reserve Chair on the Cryptocurrency Industry: Policy Shifts and Regulatory Reshaping
The change of the next Federal Reserve Chair is a decisive factor in reshaping the future macro environment of the cryptocurrency industry.
Trending news
MoreCrypto prices
More
