Microstrategy lifts bond offering size to $500M - Bloomberg

Jun. 08, 2021 2:00 PM ETMicroStrategy Incorporated (MSTR), BTC-USDBy: Stephen Alpher, SA News Editor49 Comments
  • According to Bloomberg, Microstrategy (NASDAQ:MSTR) is lifting the size of its junk bond offering to $500M from $400M. Proceeds will be used to buy bitcoin (BTC-USD), making this the first-ever junk bond deal for the purposes of purchasing the popular crypto.
  • Bitcoin aside, the expected yield for the seven-year paper of 6.125%-6.25% is positively mountainous compared to the current 1.24% for seven-year Treasury paper. Investors would likely be clamoring to get a piece of the deal even if Microstrategy was buying pet rocks with the money.
  • Bitcoin is off its lowest levels of the session, but still under serious pressure at $32K. Microstrategy is down 3.9% today.
  • Earlier, the IRS asked Congress for more authority to look into citizens' crypto investments.

Recommended For You

Comments (49)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.