Microstrategy’s $500M BTC Investment Might be a Different Story By DailyCoin – Investing.com
- Date: 12-Jun-2021
- Source: Investing.com
- Sector:Economy
- Country:Middle East
Microstrategy’s $500M BTC Investment Might be a Different Story By DailyCoin – Investing.com
MicroStrategy is pushing on its cryptocurrency investment with yet another huge purchase of Bitcoin. Bitcoin, which has been struggling in recent weeks, fell from a record high of over $64,000 and is struggling to reach $40,000.
Michael Saylor has been an ardent supporter of the cryptocurrency giant to the point of storing a huge part of his company's reserves in Bitcoin. MicroStrategy's plan is to raise $500 million through the sale of corporate bonds to finance the project.
Bonds are a corporate debt which investors buy and are expected to get back coupled with interest. The news of further investment in Bitcoin by MicroStrategy tanked its stock price.
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