MicroStrategy boost junk-bond sale to buy more Bitcoin. They announced that it attracted more than $1.6 billion worth of orders for its latest deal to purchase bitcoin.
The company announced the pricing of $500 million of 6.125% Senior Secured Notes due 2028 to acquire additional bitcoin. Will sell the note in a private offering to qualified institutional buyers, and the offering is expected to close on June 14, 2021.
On Monday, Microstrategy announced it intends to offer $400 million in senior secured notes to boost its holding of Bitcoin. The firm upped the amount it would raise to $500 million.
The company received about $1.6 billion in order for offering including interest from a large number of hedge funds. Since last year company continue amassing more bitcoin after making first investment in August.
MicroStrategy has already issued a convertible bond worth around $1 billion in its mission to scoop up more Bitcoin. This is the first-ever corporate bond sale with proceeds earmarked for such purchases. MicroStrategy has accumulated approximately 92,079 bitcoin as a new subsidiary at an average of $24,450 per token.
