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MicroStrategy to Offer $1.75B 0% Convertible Notes Due 2029 to Buy More Bitcoin

Nov 18, 2024, 09:06 PM

MicroStrategy Inc., led by CEO Michael Saylor, announced a proposed private offering of $1.75 billion of 0% convertible senior notes due December 1, 2029, with an additional $250 million over-allotment option. The company plans to use the net proceeds from the offering to acquire additional Bitcoin and for general corporate purposes. This move underscores MicroStrategy's commitment to expanding its holdings in the cryptocurrency.