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MicroStrategy [MSTR] Announces to Acquire More Bitcoin Worth $400 Million

Published

3 years ago

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Microstrategy announces to buy more Bitcoin

MicroStrategy today announces via a press release that it’s going to acquire an additional $400 Million worth of Bitcoin. The company already sits on $1.5 billion worth of BTC and wants to buy more.

Michael Saylor, the CEO of Microstrategy tweets, “MicroStrategy Announces Proposed Private Offering of $400 Million of Senior Secured Notes to acquire additional #bitcoin.”

As per the press release, the notes are due 2028 and will be a private offering to qualified institutional buyers both in the US and outside.

The offering is subject to market and other conditions, and there can be no assurance as to whether, when or on what terms the offering may be completed.

“MicroStrategy’s existing approximately 92,079 bitcoins will be held by a newly formed subsidiary, MacroStrategy LLC,” as said in the press release.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

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Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.