{"id":2533,"date":"2024-03-15T00:14:53","date_gmt":"2024-03-15T00:14:53","guid":{"rendered":"https:\/\/prendergast.net\/?p=2533"},"modified":"2024-03-15T00:14:53","modified_gmt":"2024-03-15T00:14:53","slug":"microstrategy-to-raise-another-500-million-via-debt-offering-to-snap-up-more-bitcoin","status":"publish","type":"post","link":"https:\/\/prendergast.net\/?p=2533","title":{"rendered":"MicroStrategy To Raise Another 500 Million Via Debt Offering To Snap Up More Bitcoin"},"content":{"rendered":"
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MicroStrategy To Raise Another $500 Million Via Debt Offering To Snap Up More Bitcoin<\/span><\/h1>\n

By Brenda Ngari<\/a> – March 14, 2024<\/p>\n

<\/p>\n

MicroStrategy, now touting itself<\/a> as a Bitcoin Development Company, is not slowing down even after acquiring more Bitcoin than every spot BTC exchange-traded fund (ETF) in the United States. The Michael Saylor-led company is launching another private offering of convertible notes to snatch up more BTC.<\/p>\n

$500 Million Debt Sale For More Bitcoin<\/span><\/h2>\n

Prominent technology firm MicroStrategy is planning to sell an additional $500 million of its debt to expand its Bitcoin stockpile.<\/p>\n

The company announced its latest fundraiser on Wednesday, which will again come in the form of a private senior convertible notes offering, due on March 15, 2031, in order to buy more BTC.<\/p>\n

Just days ago, MicroStrategy completed an $800 debt raise, which had been increased <\/a>from an initially planned $600 million, with the proceeds of the sale plus excess cash used to purchase 12,000 more BTC<\/a> for nearly $822 million.<\/p>\n

After that purchase, the firm’s cache stands at 205,000 Bitcoins (worth over $15 billion) — making it the largest corporate holder of the preeminent cryptocurrency. Saylor’s massive Bitcoin bet has borne fruits, with nearly $8 billion in unrealized profit on its investment.<\/p>\n

MicroStrategy is now just 5,000 Bitcoins, shy of owning 1% of the top crypto’s maximum supply. Assuming Bitcoin continues hovering above $70K, the firm could purchase roughly 6,900 BTC with the proceeds of the latest debt offering.<\/p>\n

If six-figure Bitcoin forecasts come true and the flagship crypto reaches $100,000 by mid-2025, MicroStrategy’s unrealized profit on its holdings will exceed $13.4 billion, or a 197% return on investment in the space of five years.<\/p>\n

Saylor recently said<\/a> investors should treat Bitcoin less like a currency and more like a “billion-dollar property in cyberspace” that has the potential to preserve capital for hundreds of years.<\/p>\n

Notably, MicroStrategy is not the only crypto firm seeking to borrow money for its business after a parabolic Bitcoin bull run. Coinbase, America’s largest crypto exchange, on March 12 announced it would sell $1 billion worth of senior notes, maturing in April 2030, to qualified institutional investors. The proceeds will be used to repay existing debt and general corporate purposes.<\/p>\n

DISCLAIMER:<\/strong> None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.<\/p>\n

The original article written by Brenda Ngari<\/a> and posted on ZyCrypto.com<\/a>.<\/p>\n

Article reposted on Markethive by Jeffrey Sloe<\/a><\/p>\n

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing<\/a> at Commercial Funding International. **<\/strong><\/p>\n

<\/p>\n

Tim Moseley<\/p>\n","protected":false},"excerpt":{"rendered":"

MicroStrategy To Raise Another $500 Million Via Debt Offering To Snap Up More Bitcoin By Brenda Ngari – March 14, 2024 MicroStrategy, now touting itself as a Bitcoin Development Company, is not slowing down even after acquiring more Bitcoin than every spot BTC exchange-traded fund (ETF) in the United States. The Michael Saylor-led company is … Continue reading MicroStrategy To Raise Another 500 Million Via Debt Offering To Snap Up More Bitcoin<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[67,140],"_links":{"self":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/2533"}],"collection":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2533"}],"version-history":[{"count":0,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/2533\/revisions"}],"wp:attachment":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}