MicroStrategy Plans $2.6 Billion Convertible Note Sale To Acquire Bitcoin

According to Odaily, MicroStrategy has announced plans to sell $2.6 billion worth of convertible senior notes, with the proceeds intended for purchasing Bitcoin. These notes will be sold through a private placement, exclusively available to qualified institutional buyers. Additionally, MicroStrategy has granted the initial purchasers of the notes an option to buy up to an additional $400 million in principal amount within three days of the initial issuance. The issuance is anticipated to conclude on November 21, 2024, subject to customary closing conditions. This strategic move underscores MicroStrategy's continued commitment to expanding its Bitcoin holdings, reflecting its belief in the long-term value of the cryptocurrency. The company has been a prominent advocate for Bitcoin, consistently increasing its investment in the digital asset over recent years. This latest financial maneuver aligns with its strategy to leverage convertible notes as a means to fund its Bitcoin acquisitions, further solidifying its position in the cryptocurrency market.