MicroStrategy Plans to Buy More Bitcoin

MicroStrategy plans to secure $500 million through the sale of convertible notes due in 2030 to qualified investors. The proceeds from this sale will be utilized for the acquisition of additional Bitcoins and for general corporate purposes.

Buyers will also have the option to purchase an additional $75 million worth of securities. The sale will be carried out subject to market and other conditions.

The senior unsecured notes will mature on September 15, 2031. Before this date, MicroStrategy may choose to convert the securities into shares, cash, or a combination of both, only in certain circumstances.

After September 15, 2030, they may convert at any time, up until two days before maturity. On September 15, 2028, the owners of the notes will have the option to redeem them.

This move follows MicroStrategy’s previous issuance of $800 million in convertible notes, with an option for the company to purchase an additional $120 million worth.