MicroStrategy Upsizes Convertible Notes Offering To $2.6 Billion For Bitcoin Purchases
MicroStrategy Incorporated (NASDAQ:MSTR) on Wednesday announced an increase in its convertible senior notes offering to $2.6 billion from its initial $1.75 billion, signaling its continued aggressive stance on Bitcoin (CRYPTO: BTC) accumulation.
The company plans to use the net proceeds to acquire additional Bitcoin and for general corporate purposes.
What Happened: This announcement comes as Bitcoin’s price surges past $94,000, propelling MicroStrategy’s market capitalization to $96.73 billion, surpassing the combined value of Newmont Corporation (NYSE:NEM) and Barrick Gold (NYSE:GOLD), the world’s two largest gold mining companies.
The 0% convertible senior notes, due 2029, will be offered to qualified institutional buyers under Rule 144A of the Securities Act and certain non-U.S. persons in compliance with Regulation S.
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