MicroStrategy Ups Convertible Note Offering to $700M to Enhance Bitcoin Holdings

IconCryptoNewsTerminal Staff14 Jun, 2024

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MicroStrategy Ups Convertible Note Offering to $700M to Enhance Bitcoin Holdings

MicroStrategy (Nasdaq: MSTR) has expanded its convertible note offering from $500 million to $700 million to acquire additional Bitcoin (BTC). The organization is renowned for being the largest institutional holder of Bitcoin, trailing only Bitcoin ETFs. These notes, maturing in 2032, will bear an annual interest rate of 2.25%. Proceeds from the offering will be dedicated to further augmenting MicroStrategy's Bitcoin reserves. This move reinforces the company's unwavering commitment to investing in the leading cryptocurrency.