Crypto News – According to a news statement, MicroStrategy filed on Wednesday afternoon to raise $500 million through a convertible debt offering. The company plans to use the money to buy more Bitcoin.
MicroStrategy Debt Offering: Company Aims to Buy Another $500 Million BTC
The company recently closed on a $800 convertible debt offer, and it utilized the money raised, together with some cash that was already in the bank, to pay $821.7 million for an additional 12,000 bitcoin.
After that purchase, MicroStrategy had 205,000 bitcoins in its stack, which is currently valued at just around $15 billion. With the proceeds from this most recent offering, the corporation would be able to buy about 6,800 additional tokens, assuming that Bitcoin stays around its current $73,000 level.
Saylor Thinks Those Who Rely on Fiat Money Can’t Get Rich
According to his statement, Michael Saylor, the founder and executive chairman of MicroStrategy, is keeping his word and buying Bitcoin at whatever price. Saylor recently declared that Bitcoin is the “apex property” and predicted that those who respect fiat money will always be “poor.” He went on to say that wealthy individuals typically invest in tangible items like gold and real estate. Still, as far as long-term stores of value go, those two are nothing compared to Bitcoin.
Whoever gets the most Bitcoin wins.
Saylor
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