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MicroStrategy To Raise $2 Billion For More Bitcoin Purchase – Crypto News
American business intelligence and software firm Strategy (formerly MicroStrategy) has announced its plans to raise funds via private debt issuance to buy more Bitcoin. The firm targets a $2 billion debt aggregate principal amount of 0% Convertible Senior Notes.
MicroStrategy and Bitcoin: The Same Template
As the firm announced, the Senior Notes are due March 1, 2030, subject to market conditions and other factors. However, the product comes with a condition that it is only available to qualified institutional buyers. If the notes are oversubscribed, the company said it can expand by up to $300 million to accommodate more investors.
Besides purchasing more Bitcoin units, MicroStrategy said it intends to use the proceeds from this offering for general corporate purposes like working capital. The latest plan to issue these debt offerings comes after Strategy paused BTC purchases for the second time within 14 weeks.
Despite the pause, market proponents remain persuaded that the firm is not derailing from its core template, which is centered around BTC.
This is breaking news; please check back for updates!!!
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Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: 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.
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