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MicroStrategy Wants to Raise $900 Million to Buy Bitcoin

MicroStrategy continues to play hard in the crypto sphere. The company has just announced the pricing of its offering of $900 million aggregate principal amount of 0% convertible senior notes due 2027. Just like the previous time when the company has made such a move, it has plans to allocate all funds into BTC after the offering is closed tomorrow.

It was reported yesterday that the NASDA-Q-listed business intelligence giant MicroStrategy wants to offer a $600 million convertible senior notes offering to qualified institutional investors, but now the company has expanded that target by 50%.

According to the statement, MicroStrategy actually wants to raise $900 million. That’s quite a difference in the amount, but the company could again “redeem for cash all or a portion of the notes at a redemption price equal to 100% of the principal amount of the notes to be redeemed.”

The firm confirmed yet again that it planned to use the net proceeds from the sale of the notes to buy more bitcoin. The same strategy was used in 2020 when it raised $650 million in this type of note and also acquired BTC. MicroStrategy went on to allocate over $1 billion in BTC following a series of purchases.

MicroStrategy has also offered Bitcoin educational programs for corporations, while the founder of the company and its CEO, Michael Saylor, also launched panels for retail investors.

Source: cryptopotato.com

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