PANews reported on September 17 that according to The Block, MicroStrategy CEO Michael Saylor announced that the company plans to sell up to $700 million in senior convertible notes to fund the purchase of additional Bitcoin and debt repurchases. The private placement will be "subject to market conditions" and the notes will mature in 2028 as unsecured senior debt with interest paid twice a year. As of June 2024, MicroStrategy's total debt has reached $3.9 billion. According to a filing with the U.S. Securities and Exchange Commission (SEC), MicroStrategy has purchased 244,800 bitcoins worth nearly $10 billion since 2020, with an average holding cost of $38,585, including 18,300 bitcoins purchased last week, worth more than $1 billion.