Microstrategy plans $400M raise; net proceeds will fund more Bitcoin buys

posted about 2 months ago
MicroStrategy plans to sell up to $400 million in a convertible senior notes offering that will likely fund yet more Bitcoin allocations.

The business intelligence company said in a press release it will "invest the net proceeds from the sale in Bitcoin (BTC, -0.71%) in accordance with its Treasury Reserve" after first making way for business expenses. Only "qualified institutional buyers" will be permitted to buy the interest-bearing notes, which mature in five years.
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