Microstrategy Received $1.6 Billion in Orders For Their Bitcoin Offering

Microstrategy has increased its offering to $500 million just a day after it announced a $400 million offering to buy bitcoin.

According to Bloomberg citing unnamed people familiar with the matter, Microstrategy received $1.6 billion in orders for the offering, including interest from a large number of hedge funds.

The bond gives 6.125% to 6.25% interest on the secured offering, lower than early pricing discussions of 6.25% to 6.5% due to huge demand.

The initially proposed $400 million surpassed demand by the time the deal was launched, people familiar with the matter said, showing huge appetite for this third bitcoin buying debt offering that is in the process of hitting the market.