Institutional investors are becoming more bullish on the future trajectory of Bitcoin, piling up their reserves.
One of those corporations is Michael Saylor’s MicroStrategy, which announced that it just raised $1.01 billion at 0.625% interest rate to buy more Bitcoin.
MicroStrategy, a prominent corporate analytics and Bitcoin investment firm, initially revealed plans to issue $700 million of convertible senior notes due in 2028 through a private placement.
The unsecured notes, sold privately to qualified institutional buyers, will mature on September 15, 2028, and bear interest payable semi-annually starting March 15, 2025.
The conversion rate is set at approximately 5.4589 shares per $1,000, giving a conversion price of about $183.19 per share, which is a 40% premium over recent stock prices.
The company plans to use the proceeds to fully redeem its $500 million in outstanding senior secured notes and acquire additional Bitcoin, enhancing its cryptocurrency holdings.
Following the redemption, all collateral tied to the senior secured notes, including around 69,080 Bitcoins, will be released.
Charles Edwards, founder and CEO of Capriole Investments, has offered a fresh perspective on Bitcoin’s stalled price movement near the $100,000 mark, despite growing institutional enthusiasm.
Metaplanet has expanded its Bitcoin treasury with a new acquisition of 1,005 BTC valued at approximately $108.1 million, further cementing its status as one of the largest corporate holders of the digital asset.
Despite common fears that global crises spell disaster for crypto markets, new data from Binance Research suggests the opposite may be true — at least for Bitcoin.
A new report by crypto analytics firm Alphractal reveals that Bitcoin miners are facing some of the lowest profitability levels in over a decade — yet have shown little sign of capitulation.