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MicroStrategy Boosts Note Offering to $500M as It Seeks to Buy Yet More Bitcoin: Report
The business intelligence firm originally planned to offer $400 million in senior secured notes.
Business intelligence firm MicroStrategy has boosted its planned bond offering to $500 million, according to a tweet from Bloomberg.
STORY CONTINUES BELOW
- No other details were yet available.
- On Monday, MicroStrategy said it intends to offer $400 million in senior secured notes to raise funds to boost its holdings of the leading cryptocurrency by market capitalization beyond the 92,079 it already holds.
- At the same time, the company warned that based on the fluctuations of the bitcoin price during the Q2 to the present date, it sees taking an impairment of at least $284.5 million for the quarter ending June 30.
Read more: MicroStrategy to Offer $400M in Notes to Buy More Bitcoin Even as It Warns of $284.5M Impairment
Kevin Reynolds
Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
