{"id":25872,"date":"2024-06-13T12:03:08","date_gmt":"2024-06-13T12:03:08","guid":{"rendered":"https:\/\/bitcoins-101.com\/2024\/06\/13\/michael-saylors-microstrategy-to-raise-500m-to-buy-more-bitcoin\/"},"modified":"2024-06-13T12:03:08","modified_gmt":"2024-06-13T12:03:08","slug":"michael-saylors-microstrategy-to-raise-500m-to-buy-more-bitcoin","status":"publish","type":"post","link":"https:\/\/bitcoins-101.com\/2024\/06\/13\/michael-saylors-microstrategy-to-raise-500m-to-buy-more-bitcoin\/","title":{"rendered":"Michael Saylor\u2019s MicroStrategy To Raise $500M To Buy More Bitcoin"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinmagazine.com\/tags\/microstrategy\">MicroStrategy<\/a>, led by CEO Michael Saylor, announced it will <a href=\"https:\/\/www.microstrategy.com\/press\/microstrategy-announces-proposed-private-offering-of-500m-of-convertible-senior-notes_06-13-2024\">raise $500 million<\/a> through a private offering of convertible senior notes. The proceeds will fund additional purchases, furthering its corporate Bitcoin accumulation strategy.<\/p>\n<p>BREAKING: \ud83c\uddfa\ud83c\uddf8 MICROSTRATEGY TO RAISE $500 MILLION IN STOCK SALE TO BUY MORE <a href=\"https:\/\/twitter.com\/hashtag\/BITCOIN?src=hash&amp;ref_src=twsrc%5Etfw\">#BITCOIN<\/a> <a href=\"https:\/\/t.co\/ALsb7znGEZ\">pic.twitter.com\/ALsb7znGEZ<\/a><\/p>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1801203057012711747?ref_src=twsrc%5Etfw\">June 13, 2024<\/a><\/p>\n<p>MicroStrategy is already the largest public company holder of Bitcoin, with over <a href=\"https:\/\/bitcoinmagazine.com\/markets\/microstrategy-bought-122-bitcoin-in-april-now-holds-214400-btc\">214,400 BTC worth $15 billion<\/a> on its balance sheet. Starting in 2020, under Saylor&#8217;s direction, it adopted Bitcoin as its primary reserve asset.<\/p>\n<p>It&#8217;s average purchase price per Bitcoin remains around $35,000. With Bitcoin trading near $68,000, the firm is still significantly in the green on its holdings.<\/p>\n<p>The latest $500 million capital raise comes via selling convertible senior notes to qualified institutional buyers. The notes will pay interest semiannually and mature in 2032 unless converted or redeemed earlier.<\/p>\n<p>According to the <a href=\"https:\/\/www.microstrategy.com\/press\/microstrategy-announces-proposed-private-offering-of-500m-of-convertible-senior-notes_06-13-2024\">announcement<\/a>, MicroStrategy may use the funds for general corporate purposes, but Bitcoin acquisition remains the priority. The company will also grant initial purchasers an option to buy an additional $75 million of notes.<\/p>\n<p>MicroStrategy&#8217;s Bitcoin-buying obsession has made it a Wall Street proxy for Bitcoin itself. The company&#8217;s stock often rises and falls with Bitcoin&#8217;s price movements, with investors betting on BTC&#8217;s upside.<\/p>\n<p>With this latest capital injection, MicroStrategy is signaling its conviction that Bitcoin will continue appreciating over the long term. <a href=\"https:\/\/bitcoinmagazine.com\/tags\/michael-saylor\">Saylor <\/a>is ready to double down by acquiring more coins while prices remain relatively low.<\/p>","protected":false},"excerpt":{"rendered":"<p>MicroStrategy, led by CEO Michael Saylor, announced it will raise $500 million through a private offering of convertible senior notes. The proceeds will fund additional purchases, furthering its corporate Bitcoin accumulation strategy. BREAKING: \ud83c\uddfa\ud83c\uddf8 MICROSTRATEGY TO RAISE $500 MILLION IN STOCK SALE TO BUY MORE #BITCOIN pic.twitter.com\/ALsb7znGEZ \u2014 Bitcoin Magazine (@BitcoinMagazine) June 13, 2024 MicroStrategy [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25872","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/25872"}],"collection":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/comments?post=25872"}],"version-history":[{"count":0,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/25872\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/media?parent=25872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/categories?post=25872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/tags?post=25872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}