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MicroStrategy Plans To Issue $600 Million In Convertible Senior Notes To Buy More Bitcoin

Mary Liu

Summary: MicroStrategy announced its intention to issue $600 million in aggregate principal amount of convertible senior notes due in a private placement to qualified institutional buyers. The Company intends to use the net proceeds from the sale of the notes to purchase additional Bitcoin and for general corporate purposes. As the price of Bitcoin exceeded $68,000, ...

MicroStrategy announced its intention to issue $600 million in aggregate principal amount of convertible senior notes due in a private placement to qualified institutional buyers. The Company intends to use the net proceeds from the sale of the notes to purchase additional Bitcoin and for general corporate purposes.

As the price of Bitcoin exceeded $68,000, MicroStrategy’s Bitcoin holdings have exceeded $7 billion in floating profits. It currently holds 193,000 BTC at an average purchase price of $31,544 per coin.

By BitpushNews Mary Liu

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