{"id":11298,"date":"2024-03-05T10:13:09","date_gmt":"2024-03-05T08:13:09","guid":{"rendered":"https:\/\/forklog.com\/en\/microstrategy-to-issue-600-million-in-bonds-for-bitcoin-acquisition\/"},"modified":"2024-03-05T10:13:09","modified_gmt":"2024-03-05T08:13:09","slug":"microstrategy-to-issue-600-million-in-bonds-for-bitcoin-acquisition","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/microstrategy-to-issue-600-million-in-bonds-for-bitcoin-acquisition\/","title":{"rendered":"MicroStrategy to Issue $600 Million in Bonds for Bitcoin Acquisition"},"content":{"rendered":"<p>MicroStrategy will raise $600 million through the issuance of convertible bonds for qualified investors. The funds will be used for &#8220;purchasing additional bitcoins and general corporate purposes.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">MicroStrategy Announces Proposed Private Offering of $600 Million of Convertible Senior Notes <a href=\"https:\/\/twitter.com\/search?q=%24MSTR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$MSTR<\/a> <a href=\"https:\/\/t.co\/PEN5dxesIb\">https:\/\/t.co\/PEN5dxesIb<\/a><\/p>\n<p>\u2014 Michael Saylor\u26a1\ufe0f (@saylor) <a href=\"https:\/\/twitter.com\/saylor\/status\/1764758591985058146?ref_src=twsrc%5Etfw\">March 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The offering will depend on &#8220;market and other conditions.&#8221;<\/p>\n<p>The unsecured senior bonds will mature in 2030. From 2027, MicroStrategy may convert the securities into shares. On September 15, 2028, holders can demand redemption.<\/p>\n<p>The company plans to offer buyers an option to purchase additional bonds worth up to $90 million. Amid a bitcoin rally to $66,000, MicroStrategy&#8217;s market capitalization reached a record $22.64 billion. Its shares surged 23.59% in one day, reaching $1334.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-938.webp\" alt=\"1-938\" class=\"wp-image-227408\"\/><figcaption class=\"wp-element-caption\">Daily chart of MSTR shares on the Nasdaq. Data:<a href=\"https:\/\/finviz.com\/quote.ashx?t=MSTR&#038;p=d\"> Finviz<\/a>.<\/figcaption><\/figure>\n<p>According to <a href=\"https:\/\/bitcointreasuries.net\/\">BitcoinTreasuries<\/a>, the company holds 193,000 BTC valued at $13 billion. Unrealized profit has reached $6.92 billion.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/2-729.webp\" alt=\"2-729\" class=\"wp-image-227409\"\/><figcaption class=\"wp-element-caption\">Data: BitcoinTreasuries.<\/figcaption><\/figure>\n<p>On February 26, MicroStrategy increased its holdings by <a href=\"https:\/\/forklog.com\/en\/news\/microstrategy-acquires-3000-btc-for-155-million\">3000 BTC<\/a>. In the same month, the firm reported purchasing <a href=\"https:\/\/forklog.com\/en\/news\/microstrategy-expands-bitcoin-holdings-to-190000-btc\">850 BTC for $37.2 million<\/a> in January.<\/p>\n<p>In October 2023, the company acquired 155 BTC for $5.3 million. In November, it bought an additional 16,130 BTC for $593.3 million, and in December, another 14,620 BTC for $615.7 million.<\/p>\n<p>Previously, its founder Michael Saylor stated that in the near and long term, the <a href=\"https:\/\/forklog.com\/en\/news\/michael-saylor-rules-out-bitcoin-sales-from-microstrategys-holdings\">firm does not intend<\/a> to sell its bitcoin holdings.<\/p>\n<p>MicroStrategy <a href=\"https:\/\/forklog.com\/en\/news\/microstrategy-shifts-focus-to-bitcoin-development\">plans to refocus<\/a> as a &#8220;developer of bitcoin and related products.&#8221; Since its inception, it has concentrated on creating and supporting analytical software.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MicroStrategy will raise $600 million through the issuance of convertible bonds for qualified investors. The funds will be used for &#8220;purchasing additional bitcoins and general corporate purposes.&#8221; MicroStrategy Announces Proposed Private Offering of $600 Million of Convertible Senior Notes $MSTR https:\/\/t.co\/PEN5dxesIb \u2014 Michael Saylor\u26a1\ufe0f (@saylor) March 4, 2024 The offering will depend on &#8220;market and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11297,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1431,1207],"class_list":["post-11298","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-bonds","tag-microstrategy"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=11298"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11298\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/11297"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=11298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=11298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=11298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}