Following last week’s $800 million debt raise, MicroStrategy plans to sell another $500 million in debt to acquire more Bitcoin, as the cryptocurrency market frenzy pushed the token’s price above $70,000. It is standing.
The notes are available for purchase in the form of senior notes and mature on March 15, 2031. Said Investors will receive late interest or payments twice a year, the company said in a statement Wednesday.. MicroStrategy says buyers can convert some or all of the notes into cash.
The sale follows the company’s recent Bitcoin buyout. According to CNBC, Bitcoin-based companies purchased more than $800 million worth of cryptocurrencies earlier this week. report Wednesday, citing recent interview With MicroStrategy CEO Michael Saylor.It happened By issuing Senior debt is approximately that amount.
Bitcoin rose 2.6% on Wednesday, topping $73,000. The Block price data shows:.
MicroStrategy stock is trading at $1,766 at the time of writing, up more than 10% in the past 24 hours. The company’s stock price has increased more than 170% in the past year.
MicroStrategy is not the only crypto company looking to borrow money for its operations amid the boom in digital asset markets. Coinbase announced Tuesday that it will sell $1 billion worth of senior bonds to institutional investors.
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