For The Sake Of Buying Bitcoin, This Company Is Willing To Sell Bonds Worth IDR 5.7 Trillion Tri

JAKARTA – Michael Saylor's company, MicroStrategy is reported to have sold several statements of debt or bonds. This was done to buy up Bitcoin (BTC) as much as 100,000 BTC.

Launching Bitcoin News, MicroStrategy is a company that provides business intelligence services, software and cloud-based services. MicroStrategy sold its bonds worth US$400 million, equivalent to Rp. 5.7 trillion, which will mature in 2028 to institutional buyers.

This is fully and unconditionally guaranteed because it is based on a concurrent and individual senior guarantee by MicroStrategy's subsidiary, MicroStrategy Services Corporation.

“The notes and associated guarantees will be secured, on a senior guarantee basis with existing and future senior MicroStrategy debts, with a security interest in most MicroStrategy and underwriting assets, including Bitcoin or other digital assets. Obtained on or after the close of the offer," the company said in a statement.

However, MicroStrategy explained that "owned bitcoins and digital assets obtained with proceeds from existing Bitcoins" will not be used to secure the letters.

MicroStrategy revealed it owns approximately 92,079 Bitcoins held by a newly formed subsidiary called Macrostrategy LLC. In this case, MicroStrategy plans to use the proceeds from the sale to earn additional Bitcoin.

Currently Bitcoin is at the level of Rp. 471 million when this news was written. The revenue from selling MicroStrategy's IDR 5.7 trillion bonds will get Bitcoin over 11,075 BTC. If that happens then the company's deposits in crypto money will increase to as much as 103,154 Bitcoins.

For information, the owner of MicroStrategy, Michael Saylor is one of the supporters of Bitcoin. He is also one of the Whales or the most Bitcoin owners.