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.

CoinDesk Insights
Dec 8, 2020 at 8:00 p.m. UTC
Updated Sep 14, 2021 at 10:40 a.m. UTC

Michael Saylor announced plans to offer convertible bonds with the express intent to buy BTC. The community reacts.

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.

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.

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.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.