MicroStrategy Gears Up for Purchase of $1.03bln Worth Bitcoin February 22, 2021 February 22, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Bitcoin NewsFebruary 22, 2021 by Kelly Cromley

MicroStrategy Gears Up for Purchase of $1.03bln Worth Bitcoin

MicroStrategy, which provides business intelligence to its clients, is preparing to buy $1.03 billion worth Bitcoin. In the latest post on the company’s webpage, the US market list firm has stated that it is on the verge of completing its debt issue (convertible notes) in an attempt to raise additional funds to purchase Bitcoin.

The debt offering, which was completed on February 19, allowed accredited institutional level investors to buy the company’s unsecured notes offered by the company.

The maturity date for the offering is February 15th, 2027. MicroStrategy intends to earn roughly $1.03 billion from the liquidation of its notes and intends to utilize the entire funds for the purchase of additional Bitcoins.

MicroStrategy assesses that the entire funds raised from the sale of its unsecured notes will fetch about $1.03 billion, after subtracting the discounts for initial buyers, commissions and calculated expenses to conduct the offering. MicroStrategy aims to utilize the sum raised from the notes offering to buy Bitcoin.

The initiative seems to be in accordance with Saylor’s strategy to increase the company’s Bitcoin holdings as much possible to place itself in an advantageous position in the digital domain. The company is working on two strategies. The first strategy is to improve software business as it is highly profitable.

The second strategy is to buy Bitcoin, which is shaping up as the leading monetary system. The company trusts that it will transform into an asset that is hundred times greater than Facebook or Google.

The company pointed out “And when companies like Amazon plugged into the internet, people didn’t say ‘Are you an internet company or a retail company?’ I think they’re a technology company who embraced the future. Everybody is eventually going to plug into a digital monetary network just like everybody eventually plugged into the internet.”

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.