![MicroStrategy plans to buy Bitcoin with $600M private offering](http://bitcoinworld.co.in/wp-content/uploads/2020/12/microstrategy-2-1024x535.jpg)
Michael Saylor, the CEO of MicroStrategy, took to Twitter to declare that MicroStrategy will be offering a $600 million private offering. The offering will be limited to qualified institutional buyers. The $600 million private offerings will highlight the sale of senior convertible notes. They are typically low-risk bonds that investors can transform into MicroStrategy shares. Besides the senior convertible notes, investors will possess the option of buying an additional $90 million aggregate principal amount of the notes. With the revenue generated from the private offering, MicroStrategy plans to acquire even more Bitcoin.
MicroStrategy’s balance sheet recently shows that the company has funded more than $1.3 billion in Bitcoin under its CEO and famous Bitcoin bull Michael Saylor’s direction. He has taken it upon himself to train investors on the advantages of hedging with Bitcoin. Lately, he even hosted a 12-hour course called “Bitcoin for Everybody”. It instructs others on the cryptocurrency’s growing potential, as he thinks that mainstream adoption of Bitcoin is fast approaching.
Michael Saylor believes Bitcoin is a perfect hedge against Bitcoin
Michael Saylor has revealed that in comparison with conventional stores of value like gold, Bitcoin is a lot more compelling. It provides greater returns. Furthermore, he thinks that Bitcoin is a perfect hedge against inflation and much better than gold. This is because its supply is capped at 21 million. Saylor is unarguably one of the prominent Bitcoin proponents in the corporate world. Notwithstanding Saylor’s huge Bitcoin investment, he considers regulations will be advantageous towards corporate adoption. He claims that laws would legitimize the industry and promote more institutional investors to adopt crypto.
Moreover, corporate giants such as MicroStrategy, Square, and Grayscale have driven increased institutional interest in Bitcoin. The disclosure of Tesla securing a $1.5 billion acquisition of Bitcoin has also supported pushing the cryptocurrency closer to mainstream adoption. Bitcoin recently reached a new all-time high with bullish sentiment encompassing the digital asset. It hit $50,000 on leading exchanges.
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