MicroStrategy, a business intelligence software provider, has announced intention to offer $600 million aggregate principal amount of convertible senior notes due 2027 in a private offering to qualified institutional buyers. The company highlights the offering is subject to market and other conditions, and there can be "no assurance as to whether, when or on what terms the offering may be completed."
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MicroStrategy intends to use the raised capital to invest additional money in bitcoin (EXANTE: Bitcoin). MicroStrategy already has over 71,000 BTCs at a current total value of $3.6 billion.
In January, MicroStrategy' CEO, Michael Saylor, said the company will continue to hodl its bitcoin reserves and even plans to invest "additional excess cash flows" in the cryptocurrency. In MicroStrategy's Q4 2020 financial results the company wrote its carrying value of bitcoin was $1.054 billion.
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