Bitcoin Marketcap
$1.90T
Gold Marketcap
$16.30T
BTC Settlement Volume (24hr)
$12.90B
BTC Inflation Rate (next 1yr)
1.17%
CASEBITCOIN making the case for bitcoin every day
Bitcoin Marketcap
$1.90T
Gold Marketcap
$16.30T
BTC Settlement Volume (24hr)
$12.90B
BTC Inflation Rate (next 1yr)
1.17%
CASEBITCOIN making the case for bitcoin every day
UPDATE 2: MicroStrategy has completed this purchase. Final tally: An additional 19,452 BTC was purchased for a total of $1.026 billion. Average purchase price was $52,765 per BTC.
MicroStrategy now holds 90,531 BTC, worth ~$4.43 billion as of this writing.
UPDATE: MicroStrategy has upsized this offering to $900mm, with a $150mm potential add-on, and announced that the notes will bear 0% interest. MicroStrategy expects the offering to close by Friday (Feb 19th)
Original Story:
MicroStrategy announced a proposed new debt offering of $600mm, with possible $90mm add-on. The announcement states: "MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoins." The notes are convertible to cash or $MSTR stock on or after February 20, 2024 and mature on February 15, 2027.
This is the second debt offering MicroStrategy has issued, with the first occurring in December 2020, with an initial size of $400mm before being upsized to $650mm at final tally.
These debt offerings are in addition to MicroStrategy's conversion of their corporate treasury to mostly BTC, and ongoing smaller conversion of operating cash flow to BTC as part of their treasury reserve policy.
tldr