Posted 3/5/2024, 2:37:00 PM
MicroStrategy Seeks to Raise $600 Million to Buy More Bitcoin, Expanding Massive Holdings
- MicroStrategy plans to raise $600M by selling convertible debt to buy more bitcoin
- The company, led by Michael Saylor, has been accumulating bitcoin since mid-2020
- MicroStrategy currently holds 193,000 bitcoin worth over $13 billion
- The company intends to use the proceeds from the convertible notes to buy more bitcoin
- MicroStrategy stock has nearly doubled in 2024, enabling this debt offering
