Oh dear. What a ponzi bubble. 

MicroStrategy Could Soon Reveal $3 Billion of Bitcoin Buys With Bond Proceeds

The crypto world is awaiting a fresh MicroStrategy purchase of bitcoin using proceeds from a $3 billion convertible bond sale that closed on Friday. That deal was boosted in size from $2.6 billion due to strong investor demand.A filing or press release revealing new bitcoin purchases could come in the next few days.The company, which is the largest corporate holder of bitcoin with 331,200 coins as of Nov. 17, has been on a bitcoin buying spree during November. It purchased about $6.6 billion of bitcoin from Oct. 31 to Nov. 17 using proceeds from at-the-market equity offerings sold through a group of nine Wall Street firms.MicroStrategy stock, which ended Friday at $421.88, up 16.2%, has risen sharply since the Nov. 5 election due to the win of crypto-friendly Donald Trump. The stock has nearly doubled since then, while bitcoin is up about 40%.Bitcoin is trading Sunday at about $97,500, down 0.2% in the past 24 hours. Bitcoin fans are talking about a breach of the $100,000 barrier soon.
MicroStrategy Could Soon Reveal $3 Billion of Bitcoin Buys With Bond Proceeds

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

  • Top
  • Latest
empty
No comments yet