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MicroStrategy About to Pump $500 Million Into Bitcoin After Completing Massive Debt Offering

u.today 14 June 2021 16:05, UTC
Reading time: ~1 m

MicroStrategy has already raised $500 million via senior secured notes due 2028, according to its June 14 press release.

As reported by U.Today, the business intelligence firm initially announced a $400 million debt-for-Bitcoin offering on June 7 and then upped the ante to the above-mentioned $500 million.       

The net proceeds from the sale ($487.7 million) will be used for buying more Bitcoin.

Presently, MicroStrategy holds 92,079 BTC ($3.7 billion) in its recently formed MacroStrategy LLC subsidiary.     

Earlier today, the largest cryptocurrency revised the pivotal $40,000 level following bullish comments made by billionaire Paul Tudor Jones.    

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