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- MicroStrategy to Raise $1.75 Billion for Bitcoin Expansion with 0% Convertible Notes
MicroStrategy to Raise $1.75 Billion for Bitcoin Expansion with 0% Convertible Notes
MicroStrategy is raising $1.75 billion through 0% senior convertible notes to expand its massive Bitcoin holdings, reflecting its unwavering commitment to Bitcoin as a key corporate strategy.
Steven Walgenbach
November 19, 2024
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Breaking Crypto Stories
Here are the top stories today:
MicroStrategy To Raise $1.75B With 0% Interest Notes To Buy Bitcoin
Coinbase CEO To Meet With Trump To Discuss Personnel Appointments — WSJ
Senator Lummis Suggests the US Treasury Exchange Gold for Bitcoin Reserves
MicroStrategy Buy Another 51,780 BTC
BlackRock Expands Footprint in Abu Dhabi: A New Era for AI and Investment
Question of the Day
Is meme coin mania back?
MicroStrategy plans to raise $1.75 billion through 0% senior convertible notes to purchase additional Bitcoin, further bolstering its position as the largest corporate Bitcoin holder.
MicroStrategy will issue 0% senior convertible notes maturing in 2029 to raise $1.75 billion, prioritizing Bitcoin acquisitions and corporate purposes.
With 331,200 Bitcoin already valued at over $30.3 billion, the company could acquire 19,065 more Bitcoin at current prices.
The firm’s Bitcoin investment strategy, up 133% overall, aligns with its ambitious "21/21" plan to raise $42 billion over three years for further accumulation.
Coinbase CEO Brian Armstrong will reportedly meet with President-elect Donald Trump to discuss personnel appointments, amid Armstrong's growing involvement in US political advocacy for pro-crypto policies.
Brian Armstrong is expected to meet Donald Trump privately to discuss staff appointments, though his potential involvement in the administration remains uncertain.
Trump has proposed a "Bitcoin and crypto presidential advisory council" and plans to replace SEC Chair Gary Gensler, aligning with Armstrong's advocacy for pro-crypto regulatory clarity.
Armstrong and Coinbase have become more politically active, contributing millions to support pro-crypto candidates and initiatives in recent election cycles.
Senator Cynthia Lummis has proposed the US Treasury convert part of its gold reserves into Bitcoin to establish a strategic reserve, citing Bitcoin's decentralized nature and finite supply as key advantages.
Senator Lummis suggests converting a segment of US gold reserves into Bitcoin, highlighting its potential as a hedge against inflation and a step towards financial innovation.
Advocates argue that a Bitcoin reserve could diversify the Treasury's assets, stabilize the economy, and position the US as a leader in global digital finance.
Price volatility, regulatory hurdles, and implementation complexities remain significant barriers to integrating Bitcoin into national reserves.
MicroStrategy has bolstered its status as the largest corporate Bitcoin holder by purchasing 51,780 BTC for $4.6 billion, reaffirming its belief in Bitcoin as a strategic asset.
MicroStrategy has acquired 51,780 BTC for ~$4.6 billion at ~$88,627 per #bitcoin and has achieved BTC Yield of 20.4% QTD and 41.8% YTD. As of 11/17/2024, we hodl 331,200 $BTC acquired for ~$16.5 billion at ~$49,874 per bitcoin. $MSTR
— Michael Saylor⚡️ (@saylor)
1:03 PM • Nov 18, 2024
MicroStrategy purchased an additional 51,780 BTC at an average price of $88,627, raising its total holdings to 331,200 BTC, acquired for $16.5 billion.
CEO Michael Saylor views Bitcoin as a reliable store of value and a hedge against inflation, emphasizing its role in corporate treasury strategies.
The acquisition strengthens institutional interest in Bitcoin, reinforcing its legitimacy as a financial asset while highlighting the risks of market volatility.
BlackRock has expanded its presence in Abu Dhabi, focusing on AI and private markets to align with the region's vision for innovation and economic growth.
BlackRock's move into Abu Dhabi includes pursuing a license in the Abu Dhabi Global Market, emphasizing investments in private markets and AI infrastructure.
The expansion is expected to create jobs, foster innovation, and contribute to Abu Dhabi's emergence as a global financial hub.
By integrating advanced AI technologies, BlackRock aims to redefine investment strategies while supporting the UAE's economic diversification and technological advancement goals.
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