{"id":25907,"date":"2024-06-14T13:02:00","date_gmt":"2024-06-14T13:02:00","guid":{"rendered":"https:\/\/bitcoins-101.com\/2024\/06\/14\/microstrategy-boosts-stock-sale-to-700m-to-buy-more-bitcoin\/"},"modified":"2024-06-14T13:02:00","modified_gmt":"2024-06-14T13:02:00","slug":"microstrategy-boosts-stock-sale-to-700m-to-buy-more-bitcoin","status":"publish","type":"post","link":"https:\/\/bitcoins-101.com\/2024\/06\/14\/microstrategy-boosts-stock-sale-to-700m-to-buy-more-bitcoin\/","title":{"rendered":"MicroStrategy Boosts Stock Sale to $700M to Buy More Bitcoin"},"content":{"rendered":"<p>MicroStrategy, led by CEO <a href=\"https:\/\/bitcoinmagazine.com\/tags\/michael-saylor\">Michael Saylor<\/a>, has increased the size of its planned stock sale to raise additional funds to purchase Bitcoin. The company is now seeking to <a href=\"https:\/\/www.microstrategy.com\/press\/microstrategy-announces-pricing-of-offering-of-convertible-senior-notes_06-14-2024\">raise $700 million<\/a>, up from the <a href=\"https:\/\/bitcoinmagazine.com\/business\/michael-saylors-microstrategy-to-raise-500m-to-buy-more-bitcoin\">previously announced $500 million<\/a>.<\/p>\n<p>BREAKING: MicroStrategy increased its raise to $700 million to buy more <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/t.co\/B2I2uk98Ie\">pic.twitter.com\/B2I2uk98Ie<\/a><\/p>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1801587287651692864?ref_src=twsrc%5Etfw\">June 14, 2024<\/a><\/p>\n<p>MicroStrategy first announced plans on Thursday to raise $500 million by selling convertible senior notes to qualified institutional buyers. The proceeds would primarily go toward acquiring more Bitcoin for its corporate treasury, which already contains over <a href=\"https:\/\/bitcoinmagazine.com\/markets\/microstrategy-bought-122-bitcoin-in-april-now-holds-214400-btc\">214,400 BTC worth $15 billion<\/a>.<\/p>\n<p>The software analytics firm then boosted the offering to $700 million on Friday. The company said the offering is expected to close on June 17th.<\/p>\n<p><a href=\"https:\/\/bitcoinmagazine.com\/tags\/microstrategy\">MicroStrategy<\/a> has aggressively accumulated bitcoin since 2020 under Saylor&#8217;s direction. It utilizes debt to fund its Bitcoin buying, taking advantage of market volatility. The company cited its confidence that Bitcoin will continue appreciating over the long term.<\/p>\n<p>By selling convertible senior notes, MicroStrategy gains flexibility. The notes pay interest and mature in 2032, but noteholders can convert into MicroStrategy stock before maturity.<\/p>\n<p>This structure allows investors to benefit from potential Bitcoin price upside through the stock conversion option. It also shields note holders from downside risk due to their senior unsecured status.<\/p>\n<p>MicroStrategy said it may use proceeds not allocated to Bitcoin purchases for general corporate purposes. However, its intent is clearly to expand its Bitcoin trove while prices remain depressed.<\/p>\n<p>The additional capital injection signals MicroStrategy&#8217;s continued conviction in Bitcoin as its primary treasury reserve asset. Saylor is doubling down by acquiring more coins amid the current market turbulence.<\/p>","protected":false},"excerpt":{"rendered":"<p>MicroStrategy, led by CEO Michael Saylor, has increased the size of its planned stock sale to raise additional funds to purchase Bitcoin. The company is now seeking to raise $700 million, up from the previously announced $500 million. BREAKING: MicroStrategy increased its raise to $700 million to buy more #Bitcoin pic.twitter.com\/B2I2uk98Ie \u2014 Bitcoin Magazine (@BitcoinMagazine) [&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-25907","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/25907"}],"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=25907"}],"version-history":[{"count":0,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/25907\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/media?parent=25907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/categories?post=25907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/tags?post=25907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}