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Opinion

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.

By Nathaniel Whittemore
AccessTimeIconDec 8, 2020 at 8:00 p.m. UTC
Updated Sep 14, 2021 at 10:40 a.m. UTC
AccessTimeIconDec 8, 2020 at 8:00 p.m. UTCUpdated Sep 14, 2021 at 10:40 a.m. UTC
Breakdown 12.8 - MicroStrategy ETF $400M
AccessTimeIconDec 8, 2020 at 8:00 p.m. UTCUpdated 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.

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This episode is sponsored by Crypto.com, Nexo.io and this week’s special product launch LVL.co.

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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.

See also: MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys

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.

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