Bitcoin Good News from MicroStrategy: It Will Make a Half Billion Dollar Purchase!

According to MicroStrategy's (#MSTRstock ) announcement today, the company plans to issue $500 million worth of convertible notes maturing in 2032. It was stated that the issuance process will proceed depending on the conditions in the market and other areas.

The convertible notes to be issued by #MicroStrategy will pay interest twice each year, on June 15 and December 15, starting from December 15, 2024.

It was stated that the conversion time for the notes will come in 2032, but MicroStrategy can buy all or some of the notes in exchange for cash as of June 20, 2029. The notes can be exchanged for cash or shares of MicroStrategy common stock.

MicroStrategy, which describes itself as “the world's first Bitcoin development company,” will use the proceeds from the sale to purchase more Bitcoin.

MicroStrategy adopted Bitcoin as a reserve asset in August 2020 under the leadership of #MichaelSaylor . The company, which purchased more than 25 thousand Bitcoins in the first four months of this year, has a total of 214 thousand 400 Bitcoins.

The company paid an average of $35,180 per unit for these. According to CoinGecko data, #Bitcoin is currently traded at $67,495.