American blockchain intelligence and software firm MicroStrategy Inc. has completed the private issuance of $1.01 billion in Convertible Senior Notes. First announced last week, the original target was to offer a total of $700 million worth of debt notes, with a Bitcoin purchase underlying the push.
MicroStrategy and the Epic Bitcoin Play
The Michael Saylor-led firm noted that the offering was oversubscribed, underscoring the public’s belief in its Bitcoin strategy. As reported earlier by Coingape, the company upsized the notes offering from $700 million to $875 million as demand got higher.
This is not the first time MicroStrategy will be issuing a Convertible Notes to buy more Bitcoin. It remains one of the largest non-crypto entity on Wall Street with a very large Bitcoin portfolio.
This is a developing story, please check back for updates!!!
The post Breaking: MicroStrategy Completes $1.01 Bln Debt Offering To Buy Bitcoin appeared first on CoinGape.
