Analytical software provider MicroStrategy Inc. announced a $ 400 million offering of convertible senior bonds maturing in 2028.
MicroStrategy Announces Proposed Private Offering of $400 Million of Senior Secured Notes to acquire additional #bitcoin. $MSTRhttps://t.co/ilhUt1M73j
— Michael Saylor (@michael_saylor) June 7, 2021
Accredited investors will become buyers of securities. The bonds will receive the status of senior obligations.
The company will use the funds raised from the placement to buy bitcoin.
According to Bitcoin Treasuries, MicroStrategy owns 92,079 BTC worth over $ 3.37 billion.
In August 2020, MicroStrategy invested $ 250 million in Bitcoin. Later, the firm’s board of directors approved a policy of increasing investment in the first cryptocurrency at the expense of cash reserves.
In December, the company placed $ 650 million in convertible bonds for an additional purchase of digital gold.
In February 2021, the software provider additionally issued more than $ 1 billion in debt securities and again invested the funds raised in cryptocurrency.
In March, MicroStrategy acquired 328 BTC, about 205 BTC and 262 BTC. The firm invested $ 15 million each in digital gold in April and May. The company later acquired 229 BTC for $ 10 million.
MicroStrategy CFO Fong Le called the investment in bitcoin a responsibility of tech companies.
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