MicroStrategy to Buy Another $500 Million Worth of Bitcoin, Announces a BTC Holding Company
MicroStrategy, the company, spearheaded by one of Bitcoin’s most vocal proponents, Michael Saylor, has completed yet another senior secured notes offering to buy more BTC.
- In an announcement revealed today, MicroStrategy said it’d completed a $500 million offering of senior secured notes due 2028 to buy more bitcoins.
- As it stands, the company now owns approximately 92,079 bitcoins.
- The notes have been sold in a private offering to qualified institutional buyers in full accordance and reliance on Rule 144A under the Securities Act of 1933.
- Interestingly enough, though, the company has also announced a newly-formed subsidiary – MicroStrategy LLC, which now holds all the bitcoins.
- This followed the news of Paul Tudor Jones, who said that he wants to allocate 5% of his portfolio to BTC.
- The price has so far reacted positively as it now eyes $41,000, at the time of this writing.
