MicroStrategy Buy Bitcoin for another $ 1.05 billion

MicroStrategy continues to raise funds to buy BTC. The company was previously expected to issue and sell $690 million worth of bonds, but eventually raised $1.05 billion.

The bonds were issued and sold to qualified institutional investors as part of a closed offer. The first batch of bonds was sold on February 18, and the remaining securities were sold on February 19. The company’s statement reads:

“Net proceeds from the sale of the bonds amounted to approximately $1.03 billion after deducting discounts and commissions, as well as placement costs paid by MicroStrategy. The company intends to use the funds received to purchase bitcoins.”

At the moment, 71,800 BTC is stored on MicroStrategy wallets, with an average purchase price of $16,110. Given that the exchange rate of the first cryptocurrency has exceeded $56,000 over the past day, the bitcoins purchased by the company are estimated at $4 billion.

Recall that this is the second issue and sale of the bond by MicroStrategy-the first issue of securities for $650 million was held in December last year.