Jump to
Main Blog Hype MicroStrategy to raise up to $600 million to buy Bitcoins

MicroStrategy to raise up to $600 million to buy Bitcoins

Pic 1

On March 6, MicroStrategy, the company led by famous Bitcoin maximalist Michael Saylor, announced plans to raise $600 million. The funds raised will be used, among other things, to acquire more BTC. The company currently holds 193,000 coins on its balance sheet.

You can quickly and easily buy Bitcoin on our website or through the widget below.

USD
US Dollar
SAR
SAR
Saudi riyal
KRW
KRW
South Korean won
HKD
HKD
Hong Kong dollar
BRL
BRL
Brazilian real
CZK
CZK
Czech koruna
ARS
ARS
Argentine peso
VND
VND
Vietnamese đồng
USD
USD
US Dollar
CHF
CHF
Swiss franc
TWD
TWD
New Taiwan dollar
RON
RON
Romanian leu
ILS
ILS
Israeli new shekel
AMD
AMD
Armenian dram
PLN
PLN
Polish złoty
BGN
BGN
Bulgarian lev
AZN
AZN
Azerbaijan Manat
SEK
SEK
Swedish krona
GBP
GBP
Pound sterling
EUR
EUR
Euro
MDL
MDL
Moldovan leu
NOK
NOK
Norwegian krone
TRY
TRY
Turkish lira
BHD
BHD
Bahraini dinar
INR
INR
Indian rupee
MYR
MYR
Malaysian ringgit
NZD
NZD
New Zealand dollar
AUD
AUD
Australian dollar
HUF
HUF
Forint
CAD
CAD
Canadian Dollar
DKK
DKK
Danish krone
KZT
KZT
Kazakhstani tenge
UAH
UAH
Ukrainian hryvnia
BTC
Bitcoin

 

MicroStrategy's $600 million in notes

According to a press release, the company will issue $600 million in notes to "qualified institutional buyers", with maturity set for March 15, 2030. Interest will be paid semi-annually, starting September 15, 2024. MicroStrategy intends to spend the raised funds "to acquire additional Bitcoin and for general corporate purposes". 

Pic 2

Interestingly, the company is ready to spend funds to buy BTC, even at the historical highs for the price of the first cryptocurrency. However, judging by the stock price, MicroStrategy appears to be in good financial health. As you can see in the daily chart above, the stock hit its highest since February 9, 2021, on March 4, reaching a value of $1359.91. Moreover, their price has outperformed Bitcoin in terms of returns from the beginning of February to the present, with their value up almost 150%.
 

MicroStrategy's Bitcoin portfolio

MicroStrategy has been actively buying Bitcoin since 2020. Currently, the company holds 193,000 coins. That said, the average acquisition cost per BTC stands at about $31,780. The screenshot below from saylortracker site shows a detailed graph of all Bitcoin purchases made by Microstrategy, plotted against BTC's price. Additionally, a dotted line represents the average dollar value of these purchases.

Pic 3

As of today, with the Bitcoin price at around $66,500, the company has an unrealised profit of $6.871 billion. Despite this, Michael Saylor continues to increase his investment in BTC and has no intention of selling it.
 

👀 You might also like:

What is Bitcoin

3 hidden halving engines that can launch BTC to the Moon mission

How Bitcoin changed El Salvador

Maria Kachura
Maria Kachura

Visit her on Facebook or hit her up via Email.

0
Share this post
Similar articles
Best investment options for 2023
Markets
16 February, 2023
Best investment options for 2023
Let’s explore all the pros and cons of currencies, cryptocurrencies, stocks, real estate, and precious metals.
Cryptocurrency vs. token: what's the difference?
Learn
7 April, 2023
Cryptocurrency vs. token: what's the difference?
Let’s figure out what types of coins are there on the crypto market.
NFT NYC 2022!🌐🦄
Events
20 June, 2022
NFT NYC 2022!🌐🦄
NFT NYC 2022.
AIBC Americas 2022
Events
8 June, 2022
AIBC Americas 2022
AIBC Americas 2022.
ETH NEW YORK 2022 🌐🦄
Events
24 June, 2022
ETH NEW YORK 2022 🌐🦄
ETH NEW YORK 2022.
Blockchain Economy Istabbul Summit 2022
Events
9 June, 2022
Blockchain Economy Istabbul Summit 2022
Blockchain Economy Istanbul Summit.