[NEWS] MicroStrategy to raise $500 million to buy additional Bitcoin for the second time this month

On the 13th, US intelligence company MicroStrategy announced that it will issue $500 million in convertible bonds to purchase additional Bitcoin (BTC).

The initial bond purchasers will be granted an option to purchase up to $75 million within 13 days.

The bonds are senior unsecured obligations of MicroStrategy, and interest will be paid semi-annually on March 15th and September 15th of each year, beginning on September 15th of this year. The bonds mature on March 15th, 2031. Subject to certain conditions, MicroStrategy may redeem all or a portion of the bonds for cash after March 22nd, 2028.

Second fundraising this month

As Bitcoin prices soar, MicroStrategy is actively moving to purchase more. This is the second time this month that it has announced that it will raise funds through the issuance of convertible bonds to purchase Bitcoin.

The fundraising announced on the 5th initially aimed to raise $600 million (approximately 88.7 billion yen), but ultimately raised $800 million (approximately 118 billion yen) and purchased 12,000 BTC. This brings MicroStrategy's current Bitcoin holdings to 205,000 BTC. This is equivalent to $15 billion (approximately 2.22 trillion yen) at the time of writing.

MicroStrategy Chairman Michael Saylor remains bullish, stating on the 11th that "Bitcoin will eventually destroy gold."

According to him, MicroStrategy has no plans to sell Bitcoin, and is expected to continue to buy more regularly in the future.

Reference: Announcement
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