Yesterday, the American technology company, Microstrategy, announced that it has completed raising approximately $ 650 million to buy more Bitcoin.
In a note to investors today, MicroStrategy Inc. has told that it has closed the sale of $ 650 million in debt securities.
The sale reached $ 400 million last Monday.
And from what I told "MicroStrategy":
We intend to invest the net proceeds from the sale of securities, at about $ 634.9 million, after deducting discounts, commissions and expenses in Bitcoin.
Michael Saylor, CEO of MicroStrategy has become a firm believer in Bitcoin.
MicroStrategy Completes $ 650 Million Offering of 0.750% Convertible Senior Notes Due 2025 https://t.co/37y84GToPe
- Michael Saylor (@michael_saylor) December 11, 2020
His company previously bought $ 500 million in Bitcoin in the second half of this year.
He has also been tweeting about Bitcoin since he bought it.
Saylor is one of many prominent investors who have invested in Bitcoin this year as he led his company to buy bitcoin for millions of dollars.
Then came a flood of new money into the crypto arena and a renewed interest in Bitcoin on the part of institutional investors.
Early this month, Bitcoin reached an all-time high.
MicroStrategy company raised Bitcoin investing funds through the sale of debt securities. Therefore, MicroStrategy must repay investors at a rate of 0.75% annually, starting from June 2021 and ending in June 2025, unless MicroStrategy purchases debt from investors.
Investors can exchange their bonds by purchasing shares or by making cash.
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