MicroStrategy Raises $700M in Debt to Buy More Bitcoin, Stock Price Jumps 17%
- MicroStrategy raised $700M in convertible debt to buy more bitcoin, after initially planning to raise $600M
- The notes have a 0.625% annual interest rate
- The conversion price is at a 42.5% premium to March 5's closing price
- MicroStrategy already holds 193,000 BTC worth $13B
- MicroStrategy's stock price rose 17% on the news to around $1,227