MicroStrategy is looking to secure $690 million to buy Bitcoin

MicroStrategy is now planning to secure $600 million to add additional Bitcoin to its investments. The IT firm will secure the funds by selling senior convertible notes to institutional buyers, as per the press release. The notes will be going to mature on the 15th of Feb 2027, unless converted, repurchased, or redeemed before then.

Stocks of the MicroStrategy fell around 7% today after the announcement was made public. The firm already owns around 72000 units of Bitcoin worth $3.6 billion, as per the report by CNBC.

MicroStrategy secured funds in a similar manner in the month of December 2020 to purchase Bitcoin as well.

Moreover, two Russian mobile network operators are working on developing a digital wallet that could make use of a digital Ruble. Megafon and Beeline are interested in developing a wallet that could help to link a potential Russian central bank digital currency to users’ mobile numbers.

The Bank of Russia’s existing CBDC outline does not offer for maintaining a mobile wallet, as per the report. The report also said that the mobile operators are looking into the Peer Peer payments that can be transacted on or offline without a financial institution.

 “We are interested in such aspects of using the digital ruble as maintaining wallets on smart devices … not just providing a link between the client and the central bank or financial intermediary,” the Beeline representative said.

Apart from that Bank of Russia has been researching the potential of a digital ruble.

In other news, Chinese lottery services firm 500.com has acquired Blockchain Alliance Technologies, the company revealed today. The deal also includes the acquisition of the BTC.com mining pool business and cryptocurrency wallet, run by BitDeer Technologies.