đ MicroStrategy's Bitcoin gamble: Raising $700 million, aiming for big moves in the market!
MicroStrategy, a business intelligence company led by Bitcoin (BTC) advocate Michael Saylor, has been making big moves recently, which is dazzling! đ
First, they announced that they would issue $700 million in convertible bonds. The purpose of this money is very clear. One part is used to buy more Bitcoin, and the other part is used to restructure their debt. This move kills two birds with one stone, not only expanding their holdings in the Bitcoin market, but also optimizing their financial structure.
Specifically, they plan to use a large part of the $700 million to redeem $500 million in senior secured notes due in 2028. In this way, they can not only reduce their debt burden, but also release the Bitcoin in their hands to pave the way for further investment.
And just last Friday, MicroStrategy announced another big deal. They bought another 18,300 Bitcoins, with a total value of about $1.11 billion. This brings their total Bitcoin holdings to 244,800, a figure that accounts for 1% of the total Bitcoin issuance in history. MicroStrategy has undoubtedly become one of the largest institutional Bitcoin holders in the market.
Currently, MicroStrategy's total investment in Bitcoin has reached $9.45 billion, with an average purchase price of approximately $38,585 per Bitcoin. The current price of Bitcoin is $58,835. Although the price has fallen in the last 24 hours, it has still maintained a certain increase from a weekly perspective.
However, if we extend the timeline, Bitcoin's overall trend has not been so strong since it fell below $70,000 in early August. However, it remains to be seen whether the price of Bitcoin can stabilize above $58,000 before the Federal Reserve announces a rate cut.
Despite the price fluctuations, trading volume is rising. In the past 24 hours, Bitcoin's trading volume reached $28.1 billion. This may indicate that the market's interest in Bitcoin is still strong.
đŹ Finally, what do you think of MicroStrategy's series of operations? Do you think they can get a good return on their Bitcoin investment? Leave your thoughts in the comments!
