MicroStrategy, a major holder of Bitcoin, has completed a convertible notes offering to purchase more BTC. The company announced the completion of a 2.25% convertible senior notes offering, raising $800 million, with $100 million from an option to purchase. The net proceeds of approximately $786 million will be used to acquire additional Bitcoin and for general corporate purposes. MicroStrategy recently bought 11,931 BTC for $786 million, bringing their total holdings to 226,331 BTC. Despite significant Bitcoin investments, the company reported losses in 2024. MicroStrategy's founder, Michael Saylor, has been actively involved in Bitcoin acquisitions since 2020. The company's strategy of using Bitcoin as its primary reserve currency has led to substantial BTC purchases over time. While MicroStrategy continues to invest in Bitcoin, their financial reports show ongoing losses, highlighting the volatility of the cryptocurrency market. Read more AI-generated news on: https://app.chaingpt.org/news
