Microstrategy, the cloud solution provider has announced another $400 million in senior secured notes to purchase additional Bitcoin. This would be the third security debt offering by the fortune 500 company that has invested over $2 billion in Bitcoin via direct cash purchases as well as credit raised from the sale of convertible security notes
— Michael Saylor (@michael_saylor) June 7, 2021
Microstrategy is considered to be the pioneer of Fortune 500 companies buying bitcoin from their treasury cash. The software giant started buying Bitcoin towards the end of August 2020 and since then has raised over $1.5 billion in security offers to purchase bitcoin. The CEO of the firm Michael Saylor has maintained throughout that they have no plans of stopping and his company would continue buying Bitcoin.
Polygon Team Working With Terra Projects to Help Them Swiftly Migrate to Polygon NetworkBitcoin News
The Fortune 500 company currently holds 92,079 BTC on its balance sheet with a net investment of $2.251 billion. Where most of the other publically listed companies have made a one-time investment and quite a few have even sold their holdings with humungous profits, MicroStrategy has continuously bought the top cryptocurrency over the past 10 months without showing any intention of selling, even when their profits more than doubled last month when BTC price hit an ATH of $64,683.
MicroStrategy is Currently at $1B in Profit
The current valuation of MicroStrategy’s 92,079 BTC holding stands at $3.37 billion giving them more than $1 billion in profits. The profits made by the company for simply holding BTC for 10 months have exceeded its profit from all their products combined.
The software giant was among the first to propagate the use of bitcoin as a treasury reserve amid depleting value of the US dollar. Saylor over the past year has become a big-time Bitcoin proponent himself who is credited for bringing Tesla to the Bitcoin bandwagon and many other publically listed companies. Saylor recently also revealed that entities under him hold a total of 110,000 BTC and none have sold.
- Just-In: El Salvador To Discuss Bitcoin Adoption With 44 Countries
- Ethereum Founder Says A Terra Bailout Should Target These Holders
- FTX Chief Sam Bankman-Fried thinks Bitcoin Has No Future As A Payments System
- Polygon Team Working With Terra Projects to Help Them Swiftly Migrate to Polygon Network
- Where Is Terra’s (LUNA) Enormous Bitcoin Reserve?
- Binance CEO CZ Clears Air On Their Investment In Terra LUNA
- LUNA Price Jumps 1500%, Time To Buy Or Another Trap?
- Terra Founder Proposes Revival Plan But LUNA 2.0 Shall Be An Uphill Task, Here’s Why
- Just-In: Circle Mints 8.4 Billion USDC Within 7 Days, Why?
- Buy The Dip? Whales Add $1.2 Bln Bitcoin As Price Falls Below $30K
- ETH Price Analysis: Consolidation Range Soon To Launch ETH Above $2250
- Bitcoin Price Analysis: Triangle Breakout Sets BTC Rally To $32000 Mark
- LUNA Price Analysis: Opportunity to Buy Cheap or A Bull Trap?
- Decentraland Price Analysis: MANA Price Prepares For 60% Gains; Are You Buying?
- SOL Price Analysis: Is $60.0 Around The Corner On The 4-hour Chart?
- DOGE Price Analysis: Wedge Pattern Retest Phase Warns $0.08 Fallout
- Ripple Price Analysis: XRP Price Remains Pressured below $0.50; Is Selling A Good Choice?
- TRX Price Analysis: Fallout of $0.075 Support Hints 18% Drop in TRX
- Ethereum Price Forecast: Is The Dip Over Or There Is More Pain Ahead?
- MANA Price May Tumble By 42%; Here’s Why