MicoStrategy announced that it will realize a private $ 600 million Bitcoin purchase.
Massive BTC purchase from MicroStrategy
Microstrategy, the company that started corporate interest with the purchases it made in 2020, said in his statement on the subject:
“Based on the 144A Rule, MicroStrategy aims to offer $ 600 million of convertible Bitcoins to maturity in a special offer to qualified institutional buyers, depending on market conditions and other factors.
MicroStrategy also plans to offer the first buyers of the bonds the option to purchase an additional total principal amount of up to $ 90 million over a 13-day period starting on the date the bonds are first issued.
MicroStrategy is considering using the net income from selling the banknotes to generate additional Bitcoin. “
Bitcoin purchase amount will exceed $ 600 million
Microstrategy significantly surpassed its previous similar offer, starting at $ 400 million initially, but purchased another $ 650 million worth of Bitcoin. Likewise, this time they offer an option that can increase the total to about 700 million dollars. This will make Microstrategy the largest corporate BTC holder by the initial amount invested.
Microstrategy has seen the stock price rise 10 times since November. Much of this has happened due to BTC assets as some investors see it as a proxy for buying Bitcoins.
It is unclear when exactly they will start buying, but more than half a billion coins are coming towards Bitcoin.