CandleFocus MicroStrategy increases convertible note offering by 25% to buy more Bitcoin
2024-09-18
Author: Content Editor
Business intelligence firm MicroStrategy has increased its convertible note offering to $875 million in order to redeem existing debt and acquire more Bitcoin. The company, known for its aggressive Bitcoin acquisition strategy, plans to use the net proceeds to redeem outstanding senior secured notes and allocate the remainder towards purchasing additional Bitcoin and for general corporate purposes. This comes just a week after MicroStrategy acquired an additional 18,300 BTC for over $1 billion, increasing its total reserves to approximately 244,800 BTC. The notes will be sold to qualified institutional buyers and will mature in 2028.
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