By Cripto247 Editorial Office
The CEO of MicroStrategy has just closed a $205 million advance from his shareholders.
The CEO of MicroStrategy and maximum reference of institutional investments in bitcoin (BTC), Michael Saylor, talked about the recent loan that he just acquired for the purchase of new BTC. This is an advance of 205 million dollars, which will be backed by the Bitcoin holdings of his company. “It was the best possible path for the shareholders after exploring a large number of financing options”noted the CEO.
“Anyone can easily use Bitcoin as a foothold and leverage is available in abundance to every corporation in the world right now. Governments could do it. New York can issue $2 billion of debt and buy $2 billion worth of Bitcoin: Bitcoin is yielding 50% or more, debt costs 2% or less”explained Saylor.
On the other hand, the CEO spoke about a financial instrument that will appear in the short term in El Salvador and promise to be talked about in the crypto ecosystem during 2023: bitcoin backed bonds. Despite seeing it as something positive for financial innovation, the businessman believes that the market “not ready yet”.
“I would love to see a day when people finally sell Bitcoin-backed bonds as mortgage-backed securities.”slipped Saylor during an interview with Bloomberg. However, he suggested that “the market is not quite ready for that at the moment”.
Read more: ► El Salvador delays the launch of its “volcanic bonds” for its new “Bitcoin City”
Regarding Salvadoran President Nayib Bukele’s plan to sell one billion dollars in “volcanic bonds”, Saylor explained what it is “a hybrid sovereign debt instrument” and not a pure Bitcoin treasury strategy.
That has its own credit risk and has nothing to do with the risk of Bitcoin itself.
The idea of El Salvador is to allocate half of the money to the creation of “Bitcoin City”, a city on the border with Honduras intended exclusively for mining BTC with energy from volcanoes.
Keep reading:
► Florida advances in the acceptance of bitcoin for the payment of taxes
► The crypto market once again exceeds 2 trillion dollars in market capitalization
► Member of European royalty praises bitcoin: “We need to have strong money again”
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