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MicroStrategy raised $ 650 million to buy bitcoin

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BREAKING: Microstrategy Raised ADDITIONAL 650 MILLION to Buy BITCOIN BLASTING Their 400 MILLION GOAL

MicroStrategy raised $ 650 million to buy bitcoin

MicroStrategy raised $ 650 million to buy bitcoin
CONTENT

  • The company successfully placed $ 650 million convertible bonds

  • MicroStrategy plans to buy bitcoins with the funds raised

  • The company has more than 40 thousand BTC on its balance sheet

International consortium of news organizations developing transparency standards.

One of the largest Bitcoin holders offered convertible bonds worth $ 250 million more than originally planned

MicroStrategy raised $ 650 million to buy bitcoin

Business analytics provider as well as one of the largest Bitcoin holders, MicroStrategy, has offered $ 650 million in convertible bonds to buy more cryptocurrency. The company announced this on its official website..

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It is reported that the funds raised from the offer will be used to buy bitcoin:

“MicroStrategy intends to invest net proceeds from bond sales in Bitcoin in line with its reserve policy, pending working capital requirements and other general corporate goals.”.

Increasing weight

It is noteworthy that initially the company announced an offer of convertible bonds in the amount of $ 400 million. Against the background of such a rapid desire to buy more cryptocurrency, the American bank Citibank downgraded the rating of MicroStrategy shares to “sell”.

MicroStrategy raised $ 650 million to buy bitcoin

Source: google.com

At the close of trading on Friday, the MSTR share price was $ 285.92 (down 18% over the week). However, MicroStrategy, in response to Citibank’s actions, decided to increase the number of convertible bonds to $ 650 million..

For the first time, the largest public analytical company announced the purchase of 21,454 bitcoins for a total value of $ 250 million in August 2020. Then MicroStrategy reported that the purchase of cryptocurrency is part of a new capital redistribution strategy..

A month later, MicroStrategy CEO Michael Sailor announced that the company had completed the purchase of an additional 16,796 BTC worth $ 175 million (at the time of the coin). At the same time, Sailor himself is also a holer over 17,730 BTC (at the current exchange rate ~ $ 339.6 million).

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The purchase of each of the bitcoins, he said, cost an average of $ 9,882 per asset. Later, the founder of MiscroStrategy even compared bitcoin with air, which is vital for the economy..

In December 2020, MicroStrategy announced the purchase of additional bitcoins, increasing the total cryptocurrency ownership to 40,824 BTC (~ $ 747.4 million).

The price of bitcoin in the BTC / USDT pair at the time of writing is $ 18,309. The cryptocurrency itself still managed to make a bullish breakout of the short-term pattern and now the cryptocurrency is forming support.

MicroStrategy raised $ 650 million to buy bitcoin

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