Michael Saylor's MicroStrategy Eliminates Convertible Notes to Advance Bitcoin Holdings
CryptoNewsTerminal Staff13 Jun, 2024
Michael Saylor's MicroStrategy Eliminates Convertible Notes to Advance Bitcoin Holdings
MicroStrategy, the business intelligence firm led by Michael Saylor, recently announced the closure of its $650 million convertible notes due in 2025. This move aligns with MicroStrategy's strategy of acquiring and holding Bitcoin as a long-term asset. The company settled the notes entirely in shares of MicroStrategy common stock, reflecting its commitment to its Bitcoin strategy. MicroStrategy remains the largest corporate holder of Bitcoin, with over 130,000 BTC on its balance sheet. Saylor has been an outspoken advocate for Bitcoin, emphasizing its potential as a store of value and hedge against inflation. MicroStrategy's move to eliminate its convertible notes further demonstrates the company's unwavering belief in Bitcoin's long-term prospects.
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