MicroStrategy, the largest corporate holder of Bitcoin, announced it has increased its upcoming note sale to $2.6 billion, signaling bullish expectations for Bitcoin's potential to surpass the $100,000 mark.
MicroStrategy, the largest corporate Bitcoin (BTC) holder, is set to raise $2.6 billion from senior convertible notes at a 0% interest rate to buy more BTC.
The note sale was upsized from the previously announced offering of $1.75 billion aggregate principal amount of notes, the firm shared in a Nov. 20 announcement.
The $2.6 billion offering is targeting “qualified institutional buyers” and is expected to close on Nov. 21, 2024, subject to satisfaction of customary closing conditions.
BTC/USD, 1-month chart. Source: Cointelegraph
MicroStrategy’s note sale could help push Bitcoin price above the $100,000 mark for the first time in history. The announcement comes as Bitcoin is trading above $93,970 as of 1:30 pm UTC, up over 37% during the past month, Cointelegraph data shows.
This is a developing story, and further information will be added as it becomes available.
