Apparently $550 million wasn't enough as MSTR completes debt offering for $650 million, $100 million more than expected

Why not make it even billion?

MSTR first announced they would be issuing at least $400 million in convertible debt to buy more bitcoin, "at least" being the two key words.

The next day that was upped to $550 million, and a day later the debt was issued, raising $650 million due to tremendous demand.

The official announcement can be seen here:
https://www.microstrategy.com/en/company/company-videos/microstrategy-completes-650-million-offering-of-convertible-senior-notes

(Source: https://twitter.com/Bitcoin/status/1337454189354479621)

Michael Saylor and MSTR aren't messing around...

Judging by the price action today, I'd say he's not going to sit on the bid this time around and put $650 million into bitcoin without impacting the price.

Bitcoin got near $17.6k yesterday and is now already trading over $18.7k.

My guess is that is MSTR in action.

When you combine these purchases with what MassMutual bought the other day, we have a quarter of a billion dollars buying into bitcoin.

And that doesn't even include what has been going on with Grayscale, Square, and PayPal...

Plus I fully expect more companies/institutions to follow the lead set by MSTR and MassMutual over the coming weeks as many of them are sitting on record stock piles of cash.

Hope you bought the recent dip, I think the lows are in and we are going to break $20k before this year ends.

Stay informed my friends.

-Doc

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