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Institutional Bitcoin Bull MicroStrategy announced that it will issue bonds to buy more Bitcoin (BTC).
Revising its plan, MicroStrategy announced that it increased its planned bond sale to $875 million to buy more Bitcoin.
With this move, the company may purchase more Bitcoin than it previously announced.
The change was announced by MicroStrategy founder Michael Saylor.
“MicroStrategy (Nasdaq: MSTR) today announced the pricing of its offering of $875 million aggregate principal amount of 0.625% convertible senior notes due 2028.
MicroStrategy intends to use the net proceeds from the offering to repay the entire $500.0 million aggregate principal amount of MicroStrategy's 6.125% Senior Secured Notes due 2028 (the Senior Secured Notes) and the balance of the net proceeds to acquire additional Bitcoin.”
MicroStrategy Announces Pricing of Offering of Convertible Senior Notes $MSTR https://t.co/xIsCTvCBgH
— Michael Saylor⚡️ (@saylor) September 18, 2024
*This is not investment advice.