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HomeCrypto NewsMarketMicrostrategy To Raise Additional $600 Million To Buy Bitcoin

Microstrategy To Raise Additional $600 Million To Buy Bitcoin

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Analytical software provider MicroStrategy Inc. has announced the next round of sales of $600 million of convertible bonds maturing in 2027.

The buyers of the securities will be accredited investors. The company will use the funds to buy Bitcoins.


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MicroStrategy will offer convertible notes without collateral. Interest on them will be paid every six months, starting in August 2021.

The maturity date will come on February 15, 2027, if the company does not buy back or convert the securities earlier. After February 20, 2024, MicroStrategy may buy back all or part of the notes.
The securities will be converted into cash, Class A ordinary shares, or a combination of these assets.

MicroStrategy also plans to give initial bond buyers a buy option within 13 days of the first issue. It includes additional notes of up to $90 million. The company said that the final offer depends on a number of conditions.

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The price of Bitcoin has updated the historical all time high, breaking the $50,000 mark.

In December 2020, the MicroStrategy announced its intention to raise $400 million for additional investments in digital gold (BTC) through a bond offering. MicroStrategy later raised the offer to $550 million.

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Recall that in February 2021, the MicroStrategy additionally purchased 295 BTC with a total value of $10 million. In total, MicroStrategy owned 71,079 BTC.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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