MicroStrategy to Raise $500M for Bitcoin Purchase
Michael Saylor's MicroStrategy is planning to raise $500 million through a private offering of Convertible Senior Notes to purchase more Bitcoin. This move aligns with the company's aggressive strategy to expand its Bitcoin holdings. The notes will be unsecured and bear interest semi-annually, starting September 15, 2024. Additionally, MicroStrategy may allow initial purchasers to buy up to $75 million more in notes. This step underscores Saylor's continued belief in Bitcoin's potential and the company's commitment to leveraging the cryptocurrency's growth.
Source: Bloomberg
