MicroStrategy could hold more than $4B in Bitcoin after latest private offering and crypto purchase

MicroStrategy could hold more than $4B in Bitcoin after latest private offering and crypto purchase

“With the price of Bitcoin moving above $40,000 for the first time in weeks, the company could soon hold more than 100,000 BTC.
Business intelligence company MicroStrategy has completed its $500 million offering of secured notes, and said it plans to use the proceeds to purchase Bitcoin.In a Monday announcement, MicroStrategy said it had sold $500 million worth of senior secured notes in a private offering to buyers within and outside the United States. After deducting expenses, initial purchaser discounts, and commissions, the firm said the net proceeds were roughly $488 million, funds which it intends to use to buy Bitcoin (BTC).Since announcing its first $250 million BTC purchase in August 2020, MicroStrategy has made several major Bitcoin buys. At the time of publication, the firm’s subsidiary, MacroStrategy, currently holds 92,079 BTC — roughly $3.8 billion. Should the price of the crypto asset stay near its current price of $40,936, the company may be able to purchase roughly 11,913 BTC. This would mean its total Bitcoin holdings would be worth more than $4.2 billion.Related: MicroStrategy stock slides after announcing new $400M debt raise to buy BitcoinMicroStrategy announced the private offering on June 7, initially saying it intended “to raise $400 million aggregate principal amount of senior secured notes in private offering,” later saying it would increase the offering to $500 million. The company reportedly saw more than $1.6 billion worth of orders for the offering — four times the initial amount.”

Source: Cointelegraph.com News

This can pave way for XRP’s comeback above $1, perhaps to $1.29

“September has not been kind to XRP. Pressurized by multiple mini-crashes during the month, XRP’s 30-day ROI slipped to over 12%. With little interest from retail traders, XRP was unable to keep up pace with some of its other counterparts. However, a falling wedge pattern hoped to inject some signs

A third of Salvadorans ‘actively’ using Chivo wallet, President Bukele claims

“On Sept. 6, El Salvador became the first country to adopt BTC as legal tender, attracting both praise and criticism from the global community. Salvadoran President Nayib Bukele claims that 2.1 million of his fellow citizens are using the government-backed Chivo cryptocurrency wallet, offering a glimpse into the apparent success