Breaking Crypto News – MicroStrategy’s Approach to Buying Bitcoin with a $800M Note Offering

Breaking Crypto News – MicroStrategy’s Strategic Move: $800M Note Offering for Bitcoin Purchase

Breaking Crypto News – One of the biggest public Bitcoin holders in the world, MicroStrategy, has successfully completed another convertible note sale to purchase further Bitcoin. The official announcement of the completion of MicroStrategy’s previously announced sale of 2.25% convertible senior notes due in 2032 was made on June 20.

The notes offered in the offering totaled $800 million in principal, of which $100 million was issued as part of a purchase option. According to the notification, on June 17, the initial buyers fully exercised their purchase agreement, and on June 18, there was another transaction.

MicroStrategy to Use Net Income to Buy Additional Bitcoin

Once the commissions and discounts paid to the original buyers were subtracted, together with the anticipated offering costs that MicroStrategy would have to pay, the net revenues from the sale of the notes came to about $786.0 million. The net revenues from the sale of the notes will be used by MicroStrategy for both general corporate activities and the purchase of more Bitcoin. MicroStrategy revealed in a different statement that the company paid $786 million for an extra 11,931 Bitcoin at a price of $65,883 per BTC, utilizing the proceeds from convertible notes and extra cash.

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