BREAKING: MicroStrategy Raises $1 Billion to Buy More Bitcoin

Institutional investors are becoming more bullish on the future trajectory of Bitcoin, piling up their reserves.

One of those corporations is Michael Saylor’s MicroStrategy, which announced that it just raised $1.01 billion at 0.625% interest rate to buy more Bitcoin.

MicroStrategy, a prominent corporate analytics and Bitcoin investment firm, initially revealed plans to issue $700 million of convertible senior notes due in 2028 through a private placement.

The unsecured notes, sold privately to qualified institutional buyers, will mature on September 15, 2028, and bear interest payable semi-annually starting March 15, 2025.

The conversion rate is set at approximately 5.4589 shares per $1,000, giving a conversion price of about $183.19 per share, which is a 40% premium over recent stock prices.

The company plans to use the proceeds to fully redeem its $500 million in outstanding senior secured notes and acquire additional Bitcoin, enhancing its cryptocurrency holdings.

Following the redemption, all collateral tied to the senior secured notes, including around 69,080 Bitcoins, will be released.