Gigachad CEO Michael Saylor announced on Twitter this morning that his company, software information firm MicroStrategy, has proposed a $ 600 million private offering in convertible senior notes, so he’s the net proceeds from the sale of the can use notes to obtain additional bitcoins’. according to the press release, Saylor shared.
These debentures would be officially paid on 27 February 2027, and the interest will be paid on 15 February and 15 August of each year from August 2021. The amount to be paid the interest must be determined during the pricing of the offer.
Whoever enters into this offer will receive an allowance enabling them to purchase the notes’ within a period of 13 days from the date on which the notes were first issued, up to an additional total amount of $ 90 million the notes, ”according to the release.
Since MicoStrategy bought 0.1 percent of the total bitcoin stock last summer, it has been accumulating more and more. To say that it went ‘all in’ on a Bitcoin standard would be an understatement, because it was just the latest speculative attack on the US dollar he wanted to complete. In December 2020, the firm announced its intention to offer $ 650 million convertible notes to buy bitcoin.
For those who do not know what a speculative attack is, allow me to explain: Since the US dollar and other fiat currencies have infinite stocks with ever-decreasing purchasing power, the power here is to take on USD-based debt now to buy bitcoin, which has a limited supply with increasing purchasing power. Over time, the debt could be easily repaid, not only with the money from the investment, but because the value of the fiat would obviously be much lower. In essence, it is the custom to incur cheap debt to buy a harder asset that you expect to rise.
The thought leader of Bitcoin, Anil, shared an excellent example of a historical speculative attack that Hugo Stinnes committed with gold against the German paper market before the collapse of the Weimar Republic in 1923.
