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Breaking: Microstrategy to Raise $400M in Senior Secured Notes for BItcoin Investment

Micro strategy, the cloud solution provider has announced $400 million in senior secured notes to purchase additional Bitcoin. This would be the third security debt offering by the fortune 500 company that has invested over $2 billion in Bitcoin via direct cash purchases as well as credit raised from the sale of convertible security notes

Microstrategy is considered to be the pioneer of Fortune 500 companies buying bitcoin from their treasury cash. The software giant started buying Bitcoin towards the end of August 2020 and since then has raised over $1.5 billion in security offers to purchase bitcoin. The CEO of the firm Michael Saylor has maintained throughout that they have no plans of stopping and his company would continue buying Bitcoin.

The Fortune 500 company currently holds 92,079 BTC on its balance sheet with a net investment of $2.251 billion. Where most of the other publically listed companies have made a one-time investment and quite a few have even sold their holdings with humungous profits, MicroStrategy has continuously bought the top cryptocurrency over the past 10 months without showing any intention of selling, even when their profits more than doubled last month when BTC price hit an ATH of $64,683.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.
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 07.06.2021

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