🚀 MicroStrategy continues to increase its investment in Bitcoin, announcing plans to issue $700 million in convertible bonds aimed at attracting institutional investors. The proceeds will be used to repay debt and buy more Bitcoin. The bonds will pay interest twice a year and mature in 2028.
Key points:
💵 MicroStrategy plans to repay $500 million in secured debt with an interest rate of 6.125%, due in 2028.
The refund will take place on September 26, 2024, at a higher price than the original price.
The remaining funds will be used to buy more Bitcoin.
🪙 MicroStrategy has been steadily increasing its Bitcoin holdings, now reaching 244,800 BTC, representing 1.16% of the total Bitcoin supply.
👉 This latest move comes after the company disclosed a $1.1 billion purchase of Bitcoin, bringing its total investment value to nearly $10 billion. MicroStrategy remains the largest Bitcoin holder, followed by Marathon Digital.
What Happens Next?
As MicroStrategy continues its aggressive Bitcoin buying strategy, investors should closely monitor the next moves in both the Bitcoin and corporate bond markets. The company’s continued accumulation of Bitcoin shows strong confidence in Bitcoin’s long-term potential.
#Bitcoin #microstrategy $BTC
