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MicroStrategy, a leading business intelligence firm and major Bitcoin holder, has expanded its convertible note offering to $875 million, a 25% increase from the initially planned $700 million. Scheduled to mature in 2028, the notes will finance the redemption of $500 million in existing debt and further Bitcoin acquisitions. This strategic move underscores the company’s commitment to integrating Bitcoin into its financial operations and capital management strategy.
Just last week, the firm announced the purchase of an additional 18,300 BTC, totaling an investment of about $1.11 billion. This acquisition increased its Bitcoin holdings to approximately 244,800 units, bought at an average price of $38,585 per BTC. MicroStrategy’s continuous investment in Bitcoin supports its vision of long-term growth in cryptocurrency value and market integration.
The offering, available only to qualified institutional buyers, features a minimal interest rate of 0.625% per annum. Set to close on September 19, this development marks a significant step for MicroStrategy in securing institutional support and financial flexibility for its pioneering Bitcoin strategy.
