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16
Jun, 2021

MicroStrategy Doesn’t Stop to Buy Bitcoin

A month ago, MicroStrategy announced that it would issue a new bond worth $400 million, whose goal would be to purchase more Bitcoins for its portfolio.

 

After the bond’s public offering, the company gathered over $1.6 billion in offers from hedge funds and investors. The surprising supply for the bond led the company to increase the offering price to $500 million, offering a interest rate of 6.125 % for the next 6 years.

 

Until this moment, MicroStrategy holds over 92,000 bitcoins and, with the new purchase, it will surpass the 100,000 bitcoins, establishing a new subsidiary for their management in parallel.

 

It’s time to see the influence in the price formation that will derive from this move in the market.