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MicroStrategy Raises $1.05B in Latest Debt-for-Bitcoin Offering
MicroStrategy's business strategy is to buy as much bitcoin as it possibly can.
MicroStrategy CEO Michael Saylor said Friday the firm had completed a $1.05 billion debt offering, a raise that will allow the business intelligence company to buy another $1 billion in bitcoin.
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The raise is part of MicroStrategy's dual business strategy of developing business intelligence software and also literally just buying as much bitcoin as it possibly can. MicroStrategy already has 71,039 of the coins.
"MicroStrategy estimates that the net proceeds from the sale of the notes will be approximately $1.03 billion, after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by MicroStrategy," the company said.
Danny Nelson
Danny was CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
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