MicroStrategy Launches Second Note Sale This Month to Buy More Bitcoin
- Firm plans to sell $500 million of convertible notes
- MicroStrategy just completed an $800 million notes sale
This article is for subscribers only.
MicroStrategy Inc. announced for the second time in less than two weeks that it will sell convertible notes to buy more Bitcoin while the cryptocurrency surges to record highs.
The largest publicly-traded corporate holder of Bitcoin plans to offer $500 million of convertible, unsecured senior notes due in 2031, according to a statement Wednesday. The Tysons Corner, Virginia-based firm bought $821 million of Bitcoin with the proceeds from the sale of convertible senior notes due in 2030 that closed March 8.