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Free Bitcoin 2020 Earn Free Bitcoin Daily in Internet 2020 Learn different ways to earn Bitcoins by completing simple tasks, Captcha’s and sell your Bitcoins for real money. Free Bitcoin 2020 What is Bitcoin? Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency. Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets. Bitcoins in its pure essence is money. It is digital curren

Microstrategy Plans a $400 Million Capital Raise to Buy More Bitcoin

Microstrategy Plans a $400 Million Capital Raise to Buy More Bitcoin

Microstrategy Inc., said Monday that it is planning to sell $400 million in convertible senior notes to private investors so that it could buy more bitcoin.

The Nasdaq-listed business intelligence and mobile software company already holds 40,824 bitcoin (BTC) in reserve, valued at $776 million at current prices of around $19,000 per each bitcoin.

On Dec. 4, Microstrategy bought another 2,574 BTC for $50 million, adding to its initial $425 million haul from August and September. The firm holds the largest bitcoin reserves of any publicly traded company, according to bitcointreasuries.org.

Now, the company is practically borrowing from “monopoly money” in order that it buys more bitcoin. At existing prices, $400 million would add around 21,000 BTC to Microstrategy’s portfolio.

“Microstrategy intends to invest the net proceeds from the sale of the notes in bitcoin in accordance with its treasury reserve policy pending the identification of working capital needs and other general corporate purposes,” it said in a statement.

A convertible note is a short-term debt that converts into equity or cash. The note is essentially a hybrid of debt and equity, experts say. The Microstrategy convertible notes will be issued to qualified institutional buyers. They will mature on Dec. 15, 2025, with interest paid twice a year.

Shares of Microstrategy jumped 2.51% to $336.21 at close on Monday. The stock price has almost doubled since the beginning of November, rising from $184 as the price of bitcoin climbed higher. Over the past 52 weeks, the shares have reached a high of $358 and a low of $90.

What do you think about Microstrategy’s plans to increase its bitcoin holdings? Let us know in the comments section below.

The post Microstrategy Plans a $400 Million Capital Raise to Buy More Bitcoin appeared first on Bitcoin News.



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