MicroStrategy announced the issuance of $700 million in convertible senior notes due 2028.
- $500 million will be used to repay the previous tranche of notes.
- The remaining funds will be used to purchase bitcoin and for general corporate purposes.
The company will also give buyers the option to purchase an additional $105 million in notes.
MicroStrategy began buying bitcoin in 2020 and currently holds 244,800 BTC.
The company's shares fell 4.9% amid a decline in the price of bitcoin.