In an official statement on Monday, MicroStrategy disclosed that it has completed the sales of secured notes due in 2028, raising approximately $488 million, all of which the business intelligence company will use to acquire more Bitcoin.
The company further plans to allocate another $1 billion in the primary cryptocurrency after a new stock offering.
If it's not clear from all the complicated words, this is the workflow:
- Raise the capital (sell the stocks).
- Buy BTC.
Simple and brilliant idea! If you're an IT giant.
However, just as a reminder, self-trading on borrowing or debt is a dangerous strategy. The same as walking through the night-time streets of El Salvador, flaunting your new Rolex. Institutional investors were keen on the MicroStrategy offe
r. The company reportedly received more than $1.5 billion in orders, while its shares surged by over 15% following the announcement. This suggests investors are still bullish on the future of Bitcoin despite the recent market correction.