Community Articles
via BeInCrypto · By Lockridge Okoth
MicroStrategy Spends Nearly 70% of Its Cash Reserve to Clear Massive Debt
LO
Lockridge Okoth(01:19 PM UTC)
1 min read
868 views
0 commentsMicroStrategy spent $1.38 billion from its cash reserve to repurchase $1.5 billion of zero-coupon convertible notes due 2029, settling the debt at an 8% discount to par.
The buyback consumed most of the company’s roughly $2 billion USD Reserve, leaving $871 million on hand. Bitcoin purchases were paused for the week as the balance sheet was restructured.
Cash Reserve Drained for Discount…
COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.
Add COINOTAG as a Preferred Source
Add COINOTAG to your preferred sources in Google News and Search to see our coverage first.
Add on GoogleComments
Comments
Other Community Articles