Go to Source
Author: Danny Nelson
Go to Source
Author: Benjamin Powers
Go to Source
Author: Leigh Cuen
Go to Source
Author: Muyao Shen
MicroStrategy said Friday that it had raised $650 million via a senior convertible note offering as part of its push for more financial dry powder with which to buy bitcoin.
The final figure is $100 million more than previously articulated in public statements, and $250 million more than when it first made the announcement.
As the firm noted in a release:
“The aggregate principal amount of the notes sold in the offering was $650 million, which includes notes issuable pursuant to an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $100 million aggregate principal amount of the notes granted to the initial purchaser of the notes, which the initial purchaser exercised in full on December 9, 2020 and which additional purchase was also completed today.”
It is not clear at this time who took part in the round; the company’s statement states that “[t]he notes were sold in a private offering to qualified institutional buyers
As before, MicroStrategy said it “intends to invest the net proceeds from the sale of the notes in bitcoin in accordance with its Treasury Reserve Policy pending identification of working capital needs and other general corporate purposes.”
The move follow’s MicroStrategy $50 million purchase of bitcoin, with its currently known holdings now above 40,000 BTC.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Go to Source
Author: Michael McSweeney
Go to Source
Author: Danny Nelson
Go to Source
Author: Michael J. Casey
Sweden’s financial markets minister Per Bolund said the government will launch a review of the practicality of the e-Krona, according to Bloomberg.
Anna Kinberg Batra, former chairwoman of the Riksbank’s finance committee, will reportedly lead the review. The review is slated to end in November 2022.
Cash use in Sweden dropped to record lows in October of this year, according to the Riksbank, with the pandemic spurring the transition away from physical cash. Circulating cash as a percentage of Sweden’s GDP is now 1% compared to 4% in 2004, according to research from The Block.
Riksbank started looking into e-krona in 2017, stating the digital currency had the potential to combat issues cash’s decline in the payment market would have.
In February, Sweden partnered with the consulting giant Accenture to create a pilot project investigating how the general public can use e-krona. This pilot project is set to run till February of 2021.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Go to Source
Author: MK Manoylov
Go to Source
Author: Daniel Kuhn
Go to Source
Author: Anna Baydakova