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02 March 2021

MicroStrategy Raises $1.05 Billion For More Bitcoin – Bitcoin Magazine

MicroStrategy Raises $1.05 Billion For More Bitcoin – Bitcoin Magazine

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As Bitcoin hit new all-time price highs over $53,000 and the asset’s market capitalization passed $1 trillion, MicroStrategy CEO Michael Saylor announced on Twitter that his company closed out its convertible note offering to buy more bitcoin and raised more than expected at $1.05 billion, per a release. .

Just one day after CEO Michael Saylor announced that his company MicroStrategy was proposing a private offering of $600 million of convertible senior notes to buy more bitcoin, he announced that the offering will actually be $900 million of notes, according to a release. .

The terms around this offering were also further clarified from what was first proposed, as it was announced that they will not bear interest, and the principal amount of the notes won’t accrete.

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