In May, an alleged “insider” claimed that a group of Bitcoin Whales were trying to get a series of positions liquidated from a big player.
The latest bond issuance will only be senior secured on the BTC that he plans to accumulate on the proceeds from this issuance.
The software company must pay around $5 million annually in interest for their debts.
The company would then be free to sell their Bitcoin, in case of a major drop in the crypto market.
First, the most recent debt acquired by MicroStrategy will not have an effect on their overall Bitcoin holding; the company cannot be liquidated out of its position.
As the chart below shows, MicroStrategy shares were once valuated at $3,000 during the year 2000.
NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins.