Reported by The Block, following its $800 million debt raise last week, Microstrategy is planning to sell an additional $500 million of its debt to snap up more bitcoin, as the red-hot cryptocurrency market pushed the token’s price past $70,000.
The debt is purchasable in the form of senior notes, which will mature on March 15, 2031. The company said Wednesday in a statement that investors will receive interest-payable arrears, or payouts, twice a year. According to MicroStrategy, buyers can convert part or all of the notes into cash.
The sale follows the company’s recent bitcoin buying spree. The bitcoin-based business purchased more than $800 million worth of the cryptocurrency earlier this week, CNBC reported Wednesday, citing its recent interview with MicroStrategy CEO Michael Saylor. It did so by issuing roughly that amount in senior debt.
Bitcoin
