MicroStrategy Plans to Buy More Bitcoin
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MicroStrategy has announced that it intends to sell up to $700 million in convertible senior notes.

The proceeds from the offering will be used to fund new BTC purchases and to repurchase existing debt held by the company.

The offering, which is subject to market conditions, will consist of senior unsecured debentures and will mature in 2028. Interest on the debentures will be paid twice a year.

As of June 2024, MicroStrategy's total debt amounted to $3.9 billion. The company has recently acquired a significant amount of BTC, with a total of 244,800 BTC worth nearly $10 billion, including a large purchase of 18,300 BTC worth more than $1 billion last week.

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