MicroStrategy<\/a>, led by CEO Michael Saylor, announced it will 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

BREAKING: \ud83c\uddfa\ud83c\uddf8 MICROSTRATEGY TO RAISE $500 MILLION IN STOCK SALE TO BUY MORE #BITCOIN<\/a> pic.twitter.com\/ALsb7znGEZ<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) June 13, 2024<\/a><\/p>\n

MicroStrategy is already the largest public company holder of Bitcoin, with over 214,400 BTC worth $15 billion<\/a> on its balance sheet. Starting in 2020, under Saylor’s direction, it adopted Bitcoin as its primary reserve asset.<\/p>\n

It’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

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

According to the 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

MicroStrategy’s Bitcoin-buying obsession has made it a Wall Street proxy for Bitcoin itself. The company’s stock often rises and falls with Bitcoin’s price movements, with investors betting on BTC’s upside.<\/p>\n

With this latest capital injection, MicroStrategy is signaling its conviction that Bitcoin will continue appreciating over the long term. Saylor <\/a>is ready to double down by acquiring more coins while prices remain relatively low.<\/p>","protected":false},"excerpt":{"rendered":"

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 […]<\/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","targetHints":{"allow":["GET"]}}],"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}]}}