As Twitter has announced raising of $1.25 billion in convertible notes, Misha Lederman and Anthony Pompliano assume Dorsey wants to get Bitcoin onto the balance sheet
Twitter has just announced it is raising a mammoth $1.25 from qualified institutional buyers via convertible notes.
Some crypto community influencers, Misha Lederman and Anthony Pompliano, believe Jack Dorsey might be following the suit of MicroStrategy and get Bitcoin on Twitter’s balance sheet.
Is Twitter following in the steps of MicroStrategy?
MicroStrategy helmed by Bitcoin evangelist Michael Saylor has already twice raised an eye-twitching amounts of cash from investors via convertible notes to buy the world’s biggest cryptocurrency – Bitcoin.
Now, as Twitter has announced that it wants to do a $1.25 billion offering of convertible notes, some influencers of the crypto community seems to believe that the Twitter CEO, Bitcoiner Jack Dorsey, might be raising funds to put some Bitcoin onto the company’s balance sheet.
Among them are Klever’s Misha Lederman and Anthony Pompliano, known as Pomp on Twitter.
The convertible notes offered by Twitter will be due in 2026, according to the press-release. The funds will be raised in a private placement to qualified institutional investors only.
Money for “corporate purposes and potential acquisitions”
Even despite the recent successful fundraising done by MicroStrategy twice, and Jack Dorsey’s Square buying a $50-million worth of BTC in September 2020, this time the goal could be not Bitcoin.
The press-release says that part of the net proceeds from selling the notes will be used for paying the cost of the note hedge transactions and the rest will be used for payouts on the maturity of Twitter’s 1.00% convertible senior notes due in 2021 and “for general corporate purposes, including capital expenditures, working capital and potential acquisitions”.
So there still seems to be a chance that Twitter might get some Bitcoin on its balance sheet after all.
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