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MicroStrategy, a prominent business intelligence firm and major Bitcoin investor, has unveiled plans to issue $1.75 billion in convertible senior notes due in 2029.
The offering, targeted at qualified institutional buyers and non-U.S. investors, may also include an option for initial purchasers to buy an additional $250 million in notes. The company intends to use the proceeds to acquire more Bitcoin and for general corporate purposes.
The zero-coupon notes, which carry no regular interest or accretion, will mature on December 1, 2029, unless redeemed, converted, or repurchased earlier.
Starting December 2026, MicroStrategy reserves the right to redeem part or all of the notes, provided at least $75 million remains outstanding. Investors may convert their holdings into cash, MicroStrategy Class A common stock, or a combination of both, depending on the company’s choice.
The initial conversion terms will be based on MicroStrategy’s stock price during the offering’s pricing period.
This latest move underscores MicroStrategy’s ongoing commitment to its Bitcoin-focused strategy, continuing to leverage debt to expand its cryptocurrency holdings.
Additionally, on Monday the company announced the acquisition of 51,780 BTC worth $4.61 billion, bringing its total stash to 331,200 BTC.