Corporate Bitcoin Leader Microstrategy Plans $1.75B Note Sale
Virginia-based business intelligence firm Microstrategy (Nasdaq: MSTR) plans to raise $1.75 billion through a private offering of convertible notes maturing in 2029, targeting institutional investors.
Proceeds will fund additional Bitcoin purchases, reinforcing its status as a leading corporate Bitcoin holder with an impressive 331,200 BTC acquired to date.
The notes, which carry no regular interest, may be converted into cash, Class A shares, or both, and Microstrategy retains redemption rights starting in 2026. While this bold strategy aligns with its dual focus on enterprise analytics and Bitcoin treasury reserves, it exposes the firm to crypto market volatility. Analysts are closely watching this debt-driven approach as a high-stakes bet on Bitcoin’s future.
Clever Robot News Desk 19th November 2024
