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A De Facto Bitcoin ETF? MicroStrategy Is Raising $400M to Buy More BTC
Michael Saylor announced plans to offer convertible bonds with the express intent to buy BTC. The community reacts.
Updated Sep 14, 2021, 10:40 a.m. Published Dec 8, 2020, 8:00 p.m.
Michael Saylor announced plans to offer convertible bonds with the express intent to buy BTC. The community reacts.
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This episode is sponsored by Crypto.com, Nexo.io and this week’s special product launch LVL.co.
Today on the Brief:
- BBVA set to offer crypto trading and custody
- Wells Fargo discusses bitcoin in recent investor memo
- Square launches Bitcoin Clean Energy Initiative with $10 million
Our main discussion: Michael Saylor is back at it.
The CEO of MicroStrategy and Giga Chad himself announced MicroStrategy would be offering $400 million in convertible bonds with the intent to purchase more bitcoin.
On this episode, NLW looks at the community’s reaction, including the comparison of MSTR stock to a BTC exchange-traded fund. He also discusses Saylor’s recent comments about censorship resistance as a reminder of the (potentially) divergent values of bitcoin retail HODLers and institutional investors.
See also: MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
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