Summary
TLDR: MicroStrategy plans to increase its Bitcoin holdings by $600 million through convertible senior notes. The firm currently holds 193,000 Bitcoin valued at $13.19 billion and has been steadily acquiring more. CEO Michael Saylor remains committed to crypto, with a bold price prediction of $250,900 for Bitcoin in the future.
Key Points
1. MicroStrategy, led by Michael Saylor, plans to increase its Bitcoin holdings by raising $600 million for acquisition, aiming to add to its existing 193,000 Bitcoin valued at $13.19 billion.
2. The firm will fund the additional Bitcoin through convertible senior notes, which are a type of debt security that can be converted into equity at a later date. The $600 million in notes will be sold to qualified institutional buyers under US securities laws.
3. MicroStrategy has been steadily acquiring more Bitcoin, with recent purchases totaling 850 Bitcoins at an average purchase price lower than the current value. Saylor has expressed unwavering commitment to crypto, projecting a tenfold increase in Bitcoin’s value to around $250,900.