MicroStrategy to Issue $525M in Notes to Buy More Bitcoin Amid Price Drop

• MicroStrategy plans to offer $525M in convertible senior notes, using the proceeds to buy more Bitcoin as the price dips below $70K • The notes will be convertible into cash, stock shares, or a combination at MicroStrategy's discretion • MicroStrategy estimates net proceeds of approximately $515M from the note sale • MicroStrategy intends to use the proceeds to acquire more Bitcoin and for general corporate purposes • Earlier this week, MicroStrategy used note proceeds to purchase 12,000 BTC for $821.7M at $68,477 per token