MicroStrategy bets on a BTC reserve valued at USD 690 million
The company has become one of the most recognized institutional investors worldwide
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
