By Nermeen Nabil Khear 
MicroStrategy will increase its recently announced sale of $1.75 billion worth of convertible notes to $2.6 billion to upsize its already substantial Bitcoin holdings.
MicroStrategy Ups Its Bitcoin Holdings
According to the Wednesday morning statement, the software firm will offer convertible notes with zero percent interest to interested buyers under rule 144A of the Securities Act of 1933 as well as to non-U.S. buyers under Regulation S of the Securities Act.
“MicroStrategy also granted to the initial purchasers of the notes an option to purchase, within a 3-day period beginning on, and including, the date on which the notes are first issued, up to an additional $400 million aggregate principal amount of the notes,” the statement read.
According to the software firm’s most recent press release, the proceeds from the company’s sale of convertible notes will go towards acquiring additional Bitcoin as well as “general corporate purchases.”
Michael Saylor Predicts Boon For Bitcoin
News of Michael Saylor’s latest venture comes as Bitcoin soared past record highs to $94,500 on Wednesday morning.
MicroStrategy began investing in Bitcoin under Saylor’s direction in 2020 and saw its stock rise by over 15% Wednesday.
The token has seen a boost in popularity since President-elect Donald Trump was elected earlier this month, ushering in a wave of bullish crypto sentiment.
Just last week, Saylor told CNBC that Trump’s return to the Oval Office will prove to be “incredibly auspicious” for Bitcoin. The former MicroStrategy CEO claimed he does not predict “any near-term threats on the horizon” for the cryptocurrency.
On Tuesday, reports emerged that Trump had chosen pro-Bitcoin Cantor Fitzgerald CEO Howard Lutnick as his Commerce secretary.
Simultaneously, The Financial Times reported that the Trump Media and Technology Group was looking to buy cryptocurrency marketplace Bakkt.
Trump’s affection for crypto—combined with his promise of a digital asset-friendly regulatory framework—has seemingly generated a wave of excitement about the blockchain sector’s potential.
“I’m planning the $100,000 party,” Saylor told CNBC of Bitcoin earlier this month. “I’m thinking it’s probably going to be New Year’s Eve at my house, so I would be surprised if we didn’t go through $100,000 in November or December.”
The post MicroStrategy Increases Convertible Notes Sale To $2.6 Billion To Fund Bitcoin Stash appeared first on Cryptonews.
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.