X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MicroStrategy Inc., already well on its way to transforming from a software company into a bitcoin repository, just sold junk bonds that give investors a novel way to put money into the cryptocurrency. The question on Wall Street’s mind, though, is why there was so much demand for the debt when there are more straightforward and potentially more lucrative ways to invest if bitcoin ever makes it “to the moon”—like just buying bitcoins.

Nevertheless, MicroStrategy had an easy time with its offering Tuesday, the first-ever junk deal to fund bitcoin purchases. It originally planned to sell $400 million but had orders for all of that even before officially launching the transaction with a solid presence from hedge funds. It boosted the offering to $500 million and locked in lower pricing.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.