July 25, 2021

Newspay

Bitcoin & Ethereum Blockchain News

MicroStrategy About to Pump $500 Million Into Bitcoin After Completing Massive Debt Offering

MicroStrategy has already raised $500 million via senior secured notes due 2028, according to its June 14 press release.

Source: u.today

As reported by U.Today, the business intelligence firm initially announced a $400 million debt-for-Bitcoin offering on June 7 and then upped the ante to the above-mentioned $500 million.

The net proceeds from the sale ($487.7 million) will be used for buying more Bitcoin.

Presently, MicroStrategy holds 92,079 BTC ($3.7 billion) in its recently formed MacroStrategy LLC subsidiary.

Earlier today, the largest cryptocurrency revisited the pivotal $40,000 level following bullish comments made by billionaire Paul Tudor Jones. It is currently trading at $40,720.