MicroStrategy announces third debt offering this year, led by Michael Saylor! 🎉 The company aims to raise $700 million in convertible senior notes due in 2028. There is also an option for an additional $105 million.

Some of the proceeds will be used to pay down existing debt and repurchase $500 million in senior secured notes.

The company said it plans to buy more Bitcoin with the remaining proceeds, reinforcing MicroStrategy’s commitment to its BTC strategy.

“That’s 12,500 BTC less for us,” Marathon Digital Holdings CEO Fried Thiel said. Peter Schiff chimed in with, “Again?”

MicroStrategy currently has 244,800 BTC, worth about $14.24 billion at current market prices. However, the company’s shares are down 4.9% and trading in line with Bitcoin prices. 📉