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Michael Saylor Cant Stop Buying Bitcoin

by Sham
March 13, 2024
in Crypto
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Michael Saylor Cant Stop Buying Bitcoin
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  • MicroStrategy is raising $500 million through a private offering of Convertible Senior Notes to buy more Bitcoin as BTC hits new all-time highs
  • MicroStrategy expects to grant initial purchasers an option for an additional $75 million in notes, continuing its massive Bitcoin accumulation
  • With the Bitcoin halving coming up and BTC over $70,000, MicroStrategy wants to capitalize on Bitcoin’s growth under the leadership of Michael Saylor

MicroStrategy, led by Bitcoin bull Michael Saylor, is announcing a new private offering of $500 million in Convertible Senior Notes to fund more Bitcoin buys. This capital raise comes as Bitcoin continues to hit new all-time highs.

JUST IN: MicroStrategy announces a Private Offering of $500 Million of Convertible Senior Notes to buy more #Bitcoin pic.twitter.com/By80Ijx9QN

— BlockNews.com (@blocknewsdotcom) March 13, 2024

Details of the Offering

In a press release, MicroStrategy said it intends to use the net proceeds from the sale of the notes to acquire additional bitcoin. The notes will be unsecured senior obligations that bear interest payable semi-annually.

In addition, MicroStrategy expects to grant the initial purchasers of the notes an option to purchase up to an additional $75 million in notes within 13 days.

Continued Bitcoin Accumulation

MicroStrategy has been one of the biggest corporate investors in Bitcoin over the past few years. Now the company is again looking to buy even more BTC with the help of clients.

As Bitcoin has continued to rise above $70,000 in recent weeks, MicroStrategy wants to capitalize on the cryptocurrency’s growth. At press time, BTC was trading around $73,000.

With the Bitcoin halving coming up next month, BTC has potential to climb even higher. Michael Saylor has said he will never stop buying Bitcoin, which he sees as the future. This latest capital raise shows MicroStrategy’s ongoing bullish outlook.

Tags: BitcoinBTCMichael SaylorMicrostrategy
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