MicroStrategy plans to sell an additional $500 million in debt to buy more bitcoin, following last week’s issuance of convertible debt that raised $800 million and used it to buy Bitcoin. The debt will be sold as senior notes with a maturity date of March 15, 2031, at which time buyers can convert some or all of the notes into cash or equity. Investors will receive interest twice a year, and the net proceeds from the sale of the convertible notes will be used to purchase additional Bitcoin and for general corporate purposes, the company said in a statement on Wednesday.
This article MicroStrategy issues another 500 million magnesium convertible bonds and continues to increase its position in Bitcoin first appeared on Zombit.
