MicroStrategy, the largest corporate holder of Bitcoin, has announced plans to raise $1.75 billion through 0% interest senior convertible notes to expand its Bitcoin holdings. The firm stated in its Nov. 18 announcement that the funds will be allocated to acquiring additional Bitcoin and for general corporate purposes.
At current Bitcoin prices of $91,653, the company could purchase approximately 19,065 BTC if the entire amount is spent on acquisitions. This would add to its existing stockpile of 331,200 BTC, valued at over $30.3 billion, according to BitcoinTreasuries data.
The convertible notes, set to mature in 2029, offer no regular interest payments and will be redeemable at face value unless converted earlier. This move underscores MicroStrategy's aggressive Bitcoin strategy, which has seen the company acquire 142,050 BTC this year alone, purchased at an average price of $39,292.
MicroStrategy's stock closed at a record high of $374.80 on Nov. 18, up nearly 13% for the day, before dipping slightly by 0.7% in after-hours trading.
This funding initiative aligns with the company’s ambitious "21/21" plan to raise $42 billion over the next three years, split evenly between equity and fixed-income securities, to expand its Bitcoin holdings further.
Bitcoin remains less than 2% below its all-time high of $93,477, reached on Nov. 13, as the cryptocurrency market continues to rally.
