đ MicroStrategy's Bitcoin Bonanza Continues! đ
MicroStrategy (Nasdaq: MSTR) is at it again with its third debt offering of 2024, aiming to raise a cool $700 million by issuing convertible senior notes due in 2028. What's the plan? Pay off $500 million in existing debt and, you guessed it, buy more Bitcoin! Any leftover cash will go towards general corporate purposes.
- The notes will be unsecured and start paying interest in March 2025.
- Only qualified institutional buyers can get in on this action.
Despite a net loss of $102.6 million in Q2 2024, MSTR's stock has surged nearly 295% in the past 12 months! đ
What do you think about MicroStrategy's bold moves? Drop your thoughts in the comments! đŹ
