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Microstrategy will soon hold more than 100,000 bitcoins in its treasury. The company is raising $400 million by selling senior secured notes and will use the proceeds to acquire additional bitcoins.

Microstrategy Acquiring More Bitcoin

Microstrategy Inc. (Nasdaq: MSTR) announced Monday it intends to offer $400 million of “senior secured notes due 2028†in a private offering to qualified institutional buyers. The company detailed:

The company further explained that “The notes and the related guarantees will be secured, on a senior secured basis with Microstrategy’s existing and future senior indebtedness, by security interests on substantially all of Microstrategy’s and the guarantors’ assets, including any bitcoins or other digital assets acquired on or after the closing of the offering.â€

However, “existing bitcoins as well as bitcoins and digital assets acquired with the proceeds from existing bitcoins†will not be used to secure the notes, Microstrategy clarified, elaborating:

At bitcoin’s current price of $36,116 at the time of writing, Microstrategy’s $400 million would acquire over 11,075 BTC. That means the company’s cryptocurrency stash would grow to more than 103,154 bitcoins.

What do you think about Microstrategy’s bitcoin stash exceeding 100K bitcoins? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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