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Market
What will be the market reaction to Riot Platforms' Bitcoin acquisition strategy by December 31, 2025?
2
Resolution / Starting Odds
Positive reaction • 25%
Negative reaction • 25%
Neutral reaction • 25%
Mixed reaction • 25%
Financial analysis reports and market commentary
Story
Riot Platforms to Raise $500M via Convertible Notes for Bitcoin Acquisition
Dec 9, 2024, 12:21 PM
Riot Platforms Inc., a publicly traded Bitcoin mining company, has announced plans to raise $500 million through a private offering of convertible senior notes due in 2030. The company intends to use the net proceeds primarily to acquire Bitcoin for its corporate treasury and for general corporate purposes. This move follows a similar strategy previously adopted by companies like MicroStrategy Inc. and Marathon Digital Holdings Inc., which have also invested in Bitcoin for their corporate treasuries. The announcement led to a 6.5% drop in Riot Platforms' shares during premarket trading.
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Similar markets
Increases holdings but faces financial strain • 25%
Fails to increase holdings significantly • 25%
Successfully increases Bitcoin holdings significantly • 25%
Abandons acquisition strategy • 25%
Aggressive Acquisition • 25%
Moderate Acquisition • 25%
No Further Acquisition • 25%
Divestment • 25%
1,500 BTC or more • 25%
500 - 999 BTC • 25%
Less than 500 BTC • 25%
1,000 - 1,499 BTC • 25%
20,000 to 25,000 BTC • 25%
Less than 20,000 BTC • 25%
More than 30,000 BTC • 25%
25,001 to 30,000 BTC • 25%
More than 5,000 BTC • 25%
1,000 to 3,000 BTC • 25%
Less than 1,000 BTC • 25%
3,001 to 5,000 BTC • 25%
More than 20,000 BTC • 25%
18,001 - 20,000 BTC • 25%
16,000 - 18,000 BTC • 25%
Less than 16,000 BTC • 25%
Yes • 50%
No • 50%