Breaking: MicroStrategy To Raise $2 Billion For More Bitcoin Purchase

American business intelligence and software firm Strategy (formerly MicroStrategy) has announced its plans to raise funds via private debt issuance to buy more Bitcoin. The firm targets a $2 billion debt aggregate principal amount of 0% Convertible Senior Notes. 

MicroStrategy and Bitcoin: The Same Template

As the firm announced, the Senior Notes are due March 1, 2030, subject to market conditions and other factors. However, the product comes with a condition that it is only available to qualified institutional buyers. If the notes are oversubscribed, the company said it can expand by up to $300 million to accommodate more investors.

Besides purchasing more Bitcoin units, MicroStrategy said it intends to use the proceeds from this offering for general corporate purposes like working capital. The latest plan to issue these debt offerings comes after Strategy paused BTC purchases for the second time within 14 weeks.

Despite the pause, market proponents remain persuaded that the firm is not derailing from its core template, which is centered around BTC.

This is breaking news; please check back for updates!!!

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