The company that creates business software, MicroStrategy, announced that it will dedicate itself to the development of Bitcoin. Michael Saylor, executive president of the firm, confirmed that they are doing everything necessary to “grow the Bitcoin network.”

MicroStrategy has been the talk of the crypto industry for its holding of BTC, which has reached 190,000 Bitcoins. However, now the company takes a more significant step by betting on the development of the most important cryptocurrency on the market.

Saylor’s announcement details that they have plans to “create tools, applications and programs for the most important cryptocurrency.”

To its current product portfolio, MicroStrategy will add Bitcoin software development. Likewise, they will be dedicated to creating applications that increase the value of the Bitcoin network, “whether working on the main chain or second layer solutions, such as the Lightning network.”

M.Pino

Source: ambito

(Reference image source: Dmytro Demidko en Unsplash)

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La entrada MicroStrategy announced that it will dedicate itself to the development of Bitcoin apareció primero en Bitfinance.

MicroStrategy decided to increase the volume of debt bonds to $ 500 million in order to continue acquiring Bitcoin (BTC) and increase cryptocurrency reserves of the company.

The information was released by the CEO of the company, Michael Saylor, noting that the decision was made after having received 1.6 billion dollars in bond orders from institutional investors, who would buy the company’s debt with the aim of receiving a 6.125 % yield in interest on an annual basis.

It is important to remember that the business software company had launched, last Tuesday, June 7, an offer that consisted of senior notes guaranteed for the value of 400 million dollars that would be used to continue increasing the company’s BTC reserves.

MicroStrategy Announces Proposed Private Offering of $400 Million of Senior Secured Notes to acquire additional #bitcoin. $MSTRhttps://t.co/ilhUt1M73j

— Michael Saylor (@michael_saylor) June 7, 2021

The organization owns a total of 92,079 BTC acquired at an average price of $ 24,450 and is currently priced at $ 3.188 million. The cryptocurrency has become its reserve asset and displaced the traditional US dollar.

In a strategic move, MicroStrategy  took advantage of the fall in the price that Bitcoin suffered last month when the asset plummeted below $ 35,000, surpassing it to settle at $ 63,000 that same month. Currently, the price of BTC is around $ 34,700, which suggests that the company is waiting for a new decline to obtain it, establishing about $ 30,000 as the ideal price.

M. Rodríguez

Fuente: bitcoin.es

La entrada MicroStategy increases its debt bonds to 500 million dollars apareció primero en Bitfinance.

The board of directors of the analytics software company MicroStrategy has announced the payment to its board with bitcoin, as reported by the CEO of the company Michael Saylor.

According to the press release, the benefit will only be applied to directors who were classified as non-employees, this due to the modification made by the board of directors to “compensation agreements.” In this sense, the directors who are under this administrative figure will receive “all fees.”

For its part, the council showed its faithful commitment to the popular cryptocurrency, “given its ability to serve as a store of value, supported by a robust architecture and public open source, without ties to sovereign monetary policy.”

The document specifies that by virtue of said agreement, there will be no variations in the amount to be canceled and it will be nominally denominated in US dollars.

At the time of payment, the fees will be converted from USD to bitcoin and then deposited into the digital wallet of the corresponding non-employee director.

K.Villarroel

Source: decrypt

La entrada MicroStrategy board of directors will receive salaries payment in Bitcoin apareció primero en Bitfinance.

The mobile business analysis platform, MicroStrategy, has announced its new bitcoin collection plan for this year 2021 which will be USD 690 million. The company has been working on this initiative since last August in order to replace the US dollar for the popular digital currency.

The initiative to bet on bitcoin emerged since last year, when they decided to apply various investment methods, among which financing rounds stand out, where the company has managed to acquire up to 70,784 tokens.

Bitcoin reserve

MicroStrategy has been working hard in the search for new methods and solutions that lead to investing in the popular cryptocurrency and this time they take on the challenge of betting on BTC as a substitute for the US dollar as a reserve, putting into practice processes never before used by the company like the convertible notes.

This method works as a loan, generally short-term, in which the total capital financed is converted into preferred shares of the company after the end of the next round.

For the company, “the promissory notes will be MicroStrategy’s priority unsecured obligations and will accrue interest payable semiannually due on February 15 and August 15 of each year, beginning on August 15, 2021.“

K. Villarroel

Source: bitcoin.es

La entrada MicroStrategy bets on a BTC reserve valued at USD 690 million apareció primero en Bitfinance.