MicroStrategy Proposes $500M Convertible Notes to Boost Bitcoin Stash

MicroStrategy proposes $500 million debt sale to boost BTC stash.

The Nasdaq-listed firm currently holds 214,400 BTC.


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Nasdaq-listed business intelligence firm and bitcoin holder MicroStrategy (MSTR) announced Thursday that it intends to offer $500 million aggregate principal amount of convertible senior notes due 2032, proceeds of which will be used to acquire additional bitcoin and on other corporate affairs.

The notes will be unsecured, senior obligations of MicroStrategy, and interest will be paid semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2024. The offering is subject to market conditions, and there is no guarantee about when or on what terms it may be completed. Subject to certain conditions, the company may redeem for cash all or a portion of the notes on or after June 20, 2029.

Individuals believed to be qualified as institutional buyers by Rule 144A of the Securities Act of 1933 will be eligible for the private offering.

MicroStrategy currently holds 214,400 BTC worth over $14 billion and is the highest public-listed bitcoin holder. The company began accumulating the leading cryptocurrency in 2020, adopting it as a reserve asset.

Edited by Oliver Knight.