MicroStrategy, the largest corporate bitcoin holder, aims to raise an additional $1.75 billion for crypto purchases following its recent $4.6 billion acquisition.
MicroStrategy's New Bitcoin Acquisition Plan
MicroStrategy announced a plan to raise $1.75 billion through senior convertible notes with a 0% interest rate. The funds will be used to acquire additional bitcoin and for general corporate purposes.
Current Bitcoin Holdings of the Company
Currently, MicroStrategy holds 331,200 BTC, valued at over $30.3 million. The company's reserves are over ten times larger than the second-largest institutional holder, Marathon Digital Holdings.
Details about Issued Convertible Bonds
In the $1.75 billion funding round, the bonds will not include regular interest payments. They will be sold at a discount and reach face value if not converted before 2029. These notes will offer holders high priority in the event of MicroStrategy's bankruptcy or liquidation.
MicroStrategy's plans to further increase its bitcoin reserves indicate a continued strong investment strategy.
