MicroStrategy issues second convertible debt this month to buy more bitcoin

Its dropped 8% on Thursday, after hitting a 24-year high in the previous session. The stock has surged nearly threefold so far in 2024.

Bitcoin hit a fresh record high at $73,803, taking its year-to-date gains to nearly 70%.

The Tysons, Virginia-based firm joined a slew of companies offering convertible bonds in a high environment.

"MicroStrategy is now single handedly making it clear there is nothing restrictive about the (monetary) policy environment," said Michael O'Rourke, chief market strategist at JonesTrading.

"Since late 2020, the company has come to market with convertible offerings and to a lesser extent at-the-market stock offerings for the specific purpose of investing the proceeds in bitcoin. It appears it is now becoming a weekly event."

Convertible notes, which can be exchanged for shares when the stock hits a predetermined level, offer companies an option to raise capital at lower interest rates than regular bonds without the of immediately diluting shareholders like stock offerings do.

MicroStrategy, which began buying and holding bitcoins in 2020, is the largest corporate holder of the cryptocurrency as from its software eased in 2022 and 2023.

The company bought 15,000 bitcoins since Feb. 15, taking its total holdings to 205,000 as of March 10.

Source: Forex-Markets-Economic Times

Publicații recente
Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance
22.11.2024 - 10:00
Bitcoin price today: nears $100k milestone on Trump cheer
22.11.2024 - 08:00
Shiba Inu (SHIB) Rocket Fuel Pattern Here, Bitcoin (BTC) Ready for Fundamental Shift at $100,000, Solana's (SOL) Road to $300 Continues
22.11.2024 - 05:00
EOS Climbs 11% In a Green Day
22.11.2024 - 04:00
Bigger Rocket Needed: Michael Saylor Reacts to Bitcoin's Surge Past $98,000
21.11.2024 - 22:00
Bybit x Block Scholes Quarterly Institution Report: Markets Anticipate Watershed Moments as Trump Returns as the “Crypto President”
21.11.2024 - 20:00
USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products
21.11.2024 - 20:00
Bitcoin critic Gary Gensler to step down from SEC in January 2025
21.11.2024 - 20:00
Ethereum Climbs 10% In Bullish Trade
21.11.2024 - 20:00
Coinshift Launches csUSDL, Announces Strategic Partnerships
21.11.2024 - 19:00
Satoshi Nakamoto Nears Rich Elite as Bitcoin Skyrockets Past $98,000
21.11.2024 - 19:00
'Time Will Tell': Binance Bosses Add Intrigue to Bitcoin Mania at $97,000
21.11.2024 - 19:00
Ike Goes Live on Mainnet: Unlocking Liquid Staking on Aleph Zero
21.11.2024 - 19:00
Prom Announces Mainnet Launch Bringing Better Blockchain Scalability
21.11.2024 - 19:00
Bitcoin (BTC) to Go Parabolic Once This Happens, Analyst Says
21.11.2024 - 18:00

© Analytic DC. All Rights Reserved.

new
Analiza pieței Cum va afecta raportul NFP de mâine cursul de schimb al dolarului american?