MicroStrategy Plans $500M Stock Sale to Bolster Bitcoin Holdings

Last Updated on June 13, 2024

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Key Takeaways:

  • MicroStrategy plans a $500 million stock sale to buy more Bitcoin.
  • The company will offer $500 million in convertible senior notes, due in 2032, with semi-annual interest.
  • This move aligns with MicroStrategy’s strategy of using Bitcoin as a primary treasury reserve asset.

MicroStrategy has announced plans to conduct a $500 million stock sale to purchase more Bitcoin.

This move reinforces its strategy of using Bitcoin as a primary treasury reserve asset.

The company will offer $500 million in convertible senior notes, which are due in 2032.

These notes will be unsecured and bear interest payable semi-annually, with the first payment due on December 15, 2024.

The proceeds from this sale will primarily be used to acquire additional Bitcoin.

MicroStrategy will also provide initial purchasers the option to buy an additional $75 million in notes.

This announcement aligns with the company’s long-term commitment to Bitcoin as a key asset in its treasury.

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