MicroStrategy to sell $500 mln of bonds to buy bitcoins

Reuters2021-06-09

June 8 (Reuters) - MicroStrategy Inc , a major bitcoin corporate backer, said on Tuesday it was offering $500 million in bonds and the proceeds will be used to buy bitcoins.

This comes a day after the world's largest publicly-traded business intelligence company said it planned to raise $400 million through senior secured notes due 2028 in a private offering.

The company spent the last year steadily amassing more bitcoin after making its first investment in August as the cryptocurrency soared in value. It has since made multiple purchases of the digital currency.

The senior secured notes offering, expected to close on June 14, will bear an annual interest rate of 6.125%, the company said.

Bloomberg News first reported the news of MicroStrategy's increased size of bond sale earlier in the day, citing a person familiar with the matter.

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Comments

  • Chifield
    2021-06-09
    Chifield
    You might as well liquidate your core business and just keep the bitcoin holdings. Super distracted management. Good for those who lazy to open crypto account but want to invest in bitcoin. 
  • DandanC
    2021-06-09
    DandanC
    Comment :)
  • GoG
    2021-06-09
    GoG
    Buying the dip
  • Muppy
    2021-06-09
    Muppy
    Saylor is gonna lose his job if BTC tanks. What an absolute ape
    • Ola5528ReplyMuppy: 
      [LOL] Time will prove if they are visionaries or crazy and irresponsible. I am rooting for them though! ??
    • MuppyReplyOla5528: 
      same here!
    • Muppy: 
      Board meetings would be a sight. BTC Capitulates; Let's put in another few hundred millions
    • Ola5528: 
      Highest level of conviction - amazed by the level of support he gets from the board to do this!
  • pinkishmin
    2021-06-09
    pinkishmin
    Wow! Go go Micro ???!!!! Pls help like and comment!
  • Black83black
    2021-06-09
    Black83black
    ??
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