MicroStrategy Plans to Raise $600M to Buy More Bitcoin
MicroStrategy has announced that it will raise $600 million by issuing convertible notes to qualified investors. The primary purpose of this fundraising is to acquire more bitcoins and to support the company’s general corporate activities.
The offering will take place subject to market conditions. The notes, which are unsecured senior notes, will mature in 2030.
Starting from 2027, MicroStrategy has the option to convert the notes into shares. On September 15, 2028, holders of the notes will be able to redeem them.
MicroStrategy also plans to offer an additional option for buyers to purchase up to $90 million worth of bonds.
As the price of Bitcoin continues to rise, MicroStrategy’s market capitalization has reached a record high of $22.64 billion. Its shares saw a significant increase of 23.59% on the day, reaching $1,334. According to data from BitcoinTreasuries, MicroStrategy currently holds 193,000 BTC worth $13 billion, resulting in unrealized profits of $6.92 billion.
