American blockchain intelligence and software firm MicroStrategy Inc. has completed the private issuance of $1.01 billion in Convertible Senior Notes. First announced last week, the original target was to offer a total of $700 million worth of debt notes, with a Bitcoin purchase underlying the push.
MicroStrategy and the Epic Bitcoin Play
The Michael Saylor-led firm noted that the offering was oversubscribed, underscoring the public’s belief in its Bitcoin strategy. As reported earlier by Coingape, the company upsized the notes offering from $700 million to $875 million as demand got higher.
This is not the first time MicroStrategy will be issuing a Convertible Notes to buy more Bitcoin. It remains one of the largest non-crypto entity on Wall Street with a very large Bitcoin portfolio.
This is a developing story, please check back for updates!!!
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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