MicroStrategy plans to issue $500 million in convertible senior notes and buy more Bitcoin

BlockBeats news, on March 14, MicroStrategy submitted an application for the issuance of $500 million in convertible senior notes on Wednesday afternoon and planned to use the proceeds to purchase more Bitcoin. Assuming Bitcoin prices remain at current levels around $73,000, MicroStrategy will be able to use the funds from this latest raise to purchase an additional 6,800 Bitcoins. BlockBeats previously reported that on March 11, MicroStrategy announced that the company had completed the previously announced issuance of 0.625% convertible senior notes due 2030 (hereinafter referred to as the "Notes") on March 8, 2024. The aggregate principal amount of notes sold in the offering is $800 million. The net proceeds have been the purchase of additional Bitcoins.