Michael Saylor Leads MicroStrategy In $700 Million Fundraising To Redeem Debt, Boost Bitcoin Hoard
Michael Saylor’s MicroStrategy plans a private offering of $700 million in convertible senior notes to pay off $500 million of debt and further boost its Bitcoin hoard. This is the third debt offering by the company in 2024 and is only available to accredited institutional buyers. MicroStrategy Announces Proposed Private Offering of $700M of Convertible Senior Notes $MSTR https://t.co/OCq7wj2u0P — Michael Saylor⚡️ (@saylor) September 16, 2024 MicroStrategy Holds More Than 1% Of The Bitcoin Supply MicroStrategy raised about $700 million in its first 2024 debt offering in March, and followed that with another $500 million in June. The notes will bear interest payable twice yearly and mature on September 15, 2028. CEO Michael Saylor has been a vocal advocate of Bitcoin and cryptocurrencies. The company has spent over $8.3 billion as of September 2024 to amass 244,800 BTC, more than 1% of the Bitcoin supply. The s tash was bought for an average price of $36,821 and Saylor confirm