05 March 2024

MicroStrategy’s $600mn offering to fund Bitcoin purchase

Written By FinTech Alliance

MicroStrategy’s $600mn offering to fund Bitcoin purchase

MicroStrategy, a leading software firm and prominent Bitcoin advocate, intends to embark on a private offering of $600mn in convertible senior notes due 2030. 

In brief:

- MicroStrategy, led by Co-founder and Chairman Michael Saylor, has been a trailblazer in integrating Bitcoin into its corporate treasury.

- MicroStrategy explicitly outlines its strategic intent for the net proceeds, emphasising the allocation towards acquiring additional Bitcoin alongside general corporate purposes. 

- With the announcement, MicroStrategy’s stock, MSTR, experienced a substantial surge, closing nearly 24% higher, reaching $1,334 per share – its highest value in nearly two decades. 

Read more here.

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