Michael Saylor Launches MacroStrategy Subsidiary to Hold Bitcoin, Raising $400M Debt to Buy More BTC
Michael Saylor’s publicly listed analytics and business intelligence company wants to add more Bitcoin to its coffers which already holds approximately 92,079 BTC.
Interestingly, these BTC will be held by a newly formed subsidiary, MacroStrategy LLC.
With this announcement, the company also shared that they will be raising yet another $400 million in a private offering to qualified institutional buyers by issuing senior secured notes due 2028.
The net proceeds from the sale of the notes will be used to acquire additional bitcoins.
The price of MSTR shares currently trading at $477.75 meanwhile is still down about 64% from its all-time high above $1,314, set in early February.BTC -2.62% Bitcoin / USD BTCUSD $ 47,330.20
-$1,240.05-2.62% Volume 27.05 b Change -$1,240.05 Open $47,330.20 Circulating 18.82 m Market Cap 890.76 b 1 d Stablecoins Come Under Scrutiny As Regulators Rev Up Crypto Clampdown Efforts 1 d Interactive Brokers Founder Already Red Pilled, Has Been “Itching” to Offer Crypto Trading for a Long Time 1 d Visa’s Head of Crypto Inquires About Solana (SOL), PayPal Officially Enables Crypto Trading for UK Customers