The famous software company MicroStrategy for Bitcoin, whose name we have heard with the declines it has experienced these days, announced that it has completed the sale of 500 million dollars of bonds. The US software company, which has been buying Bitcoin since August 2020, will generate approximately $488 million in revenue after deducting expenses from the $500 million bond sale with an annual interest rate of 6.125 percent and maturity until 2028. MicroStrategy announced in a previous statement that they would buy Bitcoin with this income.
BTC-rich Company Invests More in Cryptocurrencies
MicroStrategy, which already has 92,079 Bitcoins, will be in debt with this sale, but at the same time, the number of Bitcoins it holds will increase. MicroStrategy keeps its Bitcoins in a new company called “MacroStrategy LLC”.
Making a statement on the subject, MicroStrategy said, “MicroStrategy has completed its previously announced 2028 secured bond sales today. The total principal amount of the bonds is 500 million dollars and the promissory notes are subject to an annual interest of 6.125 percent.”
What Does MicroStrategy Do?
MicroStrategy is an analytics company that provides business intelligence, mobile software and cloud-based services. Founded in 1989, the firm develops software to analyze internal and external data to present business decisions and develop mobile applications. The company, which earned $ 480.7 million in revenue in 2020, bought Bitcoin with $ 250 million of this revenue last year. It seems that MicroStrategy is pleased with this acquisition and is expected to make a much more serious investment soon.
Will Bitcoin Recover?
Bitcoin, which entered the recovery process with the effect of Elon Musk’s statement yesterday, has fallen to the level of 33 thousand dollars in the past days. Bitcoin, which made its peak level at $63 thousand, rose again to the level of $40 thousand after Musk’s positive statements.
Note: This news is not an investment advice for Bitcoin.
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