VIRGINIA: MicroStrategy Inc is borrowing US$400mil (RM1.65bil) to buy more bitcoin while also writing down the value of its existing holdings. It’s the first-ever junk bond sale used for financing purchases of the volatile cryptocurrency.
The Tysons Corner, Virginia-based enterprise software company said in a filing Monday that the senior secured notes will be available to qualified institutional buyers.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!