According to the announcement, MicroStrategy intends to offer a $400 million aggregate principal amount of senior secured notes in a private offering to qualified institutional buyers. The notes will be due in 2028.<\/p>\n
MicroStrategy intends to use the net proceeds from the sale of the notes to make its sixth Bitcoin purchase in less than a year. Michael Saylor-led company also announced that it will form a subsidiary, MacroStrategy LLC, which will hold existing approximately 92,079 Bitcoin that it had acquired so far.<\/strong><\/p>\n With the current amount of Bitcoin that MicroStrategy has, The worth of the company\u2019s total bitcoin holding comes to around $3.037 billion at the current price. The announcement comes even as the company disclosed that it will take an impairment charge of nearly $285 million in its second quarter. The loss comes as a result of fluctuations in the price of Bitcoin. The charge will take place in the firm’s quarter ending June 30.<\/p>\n MicroStrategy is among one of the earliest corporate backers of the world\u2019s largest cryptocurrency. The firm first invested over $450 million in Bitcoin in October of 2020. In December 2020, the company announced another Bitcoin purchase<\/a> with more than $650 million in value. This purchase was powered<\/a> by the sale of $400 Million of convertible notes.<\/p>\n In February 2021, a Virginia-based company conducted<\/a> a second identical offering to raise funds for Bitcoin purchases. On 23 February, it invested $1.026 billion in Bitcoin. On March 1st<\/sup>, it revealed the purchase<\/a> of 328 Bitcoin for about $15 million in cash at an average price of nearly $45,710 per BTC.<\/p>\n![\"bitcoin-btc\"](\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2022\/12\/bitcoin-btc-1-1.jpg\")
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