Microstrategy to Buy Another $400 Million Bitcoin

michael saylor microstrategy bitcoin miami june 2021

Microstrategy has just announced a new offering of “$400 million aggregate principal amount of senior secured notes due 2028.” “MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoins,” they say with this being the third likewise offering. If as previously the purchase is expected to begin after about ten days and occurs over a week or thereabouts on Coinbase. Microstrategy has amassed so far 92,079 bitcoins, worth about $3.6 billion. They say these coins are to be spinned off to a subsidiary: “MicroStrategy’s existing approximately 92,079 bitcoins will be held by a newly formed subsidiary, MacroStrategy LLC.” It’s not clear whether that speaks of a bigger move towards macro bitcoin related strategy, but this space is once again to learn in advance the purchase of circa half a billion bitcoin which may increase depending on demand.

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