MicroStrategy to inject $ 500 million into Bitcoin (BTC)

Author & Guarantor: Elena Yefimenko

Still in its quest to accumulate BTC, software publisher MicroStrategy has completed its $ 500 million offering of secured debt securities. The American company has confirmed that the proceeds of this operation will be used to buy Bitcoin.

MicroStrategy continues its accumulation of BTC

The American company MicroStrategy, headed by Michael Saylor, is once again preparing to invest a significant amount in Bitcoin.

On June 7, the company initially announced a $ 400 million transaction to buy Bitcoin, before increasing the stake to $ 500 million, as detailed in this press release.

“MicroStrategy estimates that the net proceeds from the sale of the secured debt securities will be approximately $ 488 million, after deducting the original purchaser’s rebates and commissions as well as the estimated offering fees payable by MicroStrategy. “

At the time of writing, Bitcoin is hovering around $ 40,500. So if MicroStrategy buys $ 500 million worth of BTC at that price, the company would acquire nearly 12,350 additional BTC. If it is confirmed that MicroStrategy bought the BTCs at the current price, then the company would have more than 105,000 BTC.

Today, the company already has more than 0.4% of all bitcoins that will be issued forever. This significant new acquisition would bring this percentage close to 0.5%.

In its press release, the MicroStrategy team recalls that it is following two strategies to develop: improve its business analysis software activity, but above all acquire and hold bitcoins:

“We see [Bitcoin] as a reliable store of value backed by a robust, public, open source architecture unrelated to sovereign monetary policy,” recalls MicroStrategy.

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