Donald Trump’s statements about Bitcoin and MicroStrategy’s strategy to increase its Bitcoin assets had a great impact in the cryptocurrency market. While Trump stated in his statement to CNBC that Bitcoin should be accepted as an important means of payment, MicroStrategy announced that it plans to purchase more Bitcoin by completing its $ 800 million bond offering. These developments also pointed out a positive development for the Bitcoin price. The coin recorded a new all-time high (ATH), rising above $72,000.
Donald Trump’s Bitcoin thoughts have changed
When Donald Trump expressed his positive thoughts about Bitcoin, the cryptocurrency world received great interest. In his statement to CNBC, he stated that Bitcoin is used intensively and is actively used in many areas. He also added that he is unsure about Bitcoin’s uses and whether he wants BTC to be eliminated.
Trump emphasized that Bitcoin should be accepted as an important means of payment by saying, “We will allow people to pay through Bitcoin… It is an additional form of currency… People are using it…” However, Trump also stated that they will not allow a currency to replace the dollar in the international financial order. He argued that this situation was equivalent to losing a revolutionary war.
There was also a move from Microstrategy and Bitcoin price increased
During Trump’s statements, the Bitcoin price reached a new historical peak, reaching over $72,000. This shows the impact of Trump’s view on cryptocurrencies on the markets. On the other hand, MicroStrategy founder Michael Saylor announced that the company has successfully completed its bond offering to increase its Bitcoin assets. In his post on his Twitter account, Saylor stated that MicroStrategy’s previously announced $800 million bond offering has been completed.
MicroStrategy announced on March 8, 2024 that it has completed its previously announced offering of 0.625% convertible senior notes due 2030. Net proceeds from the sale of these notes were approximately $782.0 million, after deducting discounts and commissions from purchasers of the notes and estimated offering expenses payable by MicroStrategy.
MicroStrategy used the net proceeds from the bond sale to purchase additional Bitcoin. The company announced on March 11, 2024, that it purchased approximately 12,000 Bitcoins with approximately $821.7 million in cash between February 26, 2024 and March 10, 2024. Of this cash, $781.1 million came from proceeds from the sale of bonds and $40.6 million came from excess cash. This move by MicroStrategy shows that the company is continuing its strategy of increasing its Bitcoin holdings and its continued confidence in the cryptocurrency.
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