Transaction

jmetaB03a0b371aae044929430d7f667367a893fa273c15972c439da6ccbe8555537aa2f@56ebb1a2d0e996f779e3c9d28818d679d2d527deda7dc6f23e3c8b725a7e236crss.itemmetarss.netMª<item><title><![CDATA[Michael Saylor’s MicroStrategy To Raise $500M To Buy More Bitcoin]]></title><description><![CDATA[MicroStrategy plans to raise $500 million through a convertible senior notes offering, with proceeds going primarily toward acquiring more Bitcoin for its corporate treasury.]]></description><link>https://bitcoinmagazine.com/business/michael-saylors-microstrategy-to-raise-500m-to-buy-more-bitcoin</link><guid isPermaLink="true">https://bitcoinmagazine.com/business/michael-saylors-microstrategy-to-raise-500m-to-buy-more-bitcoin</guid><category><![CDATA[michael saylor]]></category><category><![CDATA[News]]></category><category><![CDATA[Bitcoin]]></category><category><![CDATA[Business]]></category><category><![CDATA[microstrategy]]></category><dc:creator><![CDATA[Vivek Sen]]></dc:creator><pubDate>Thu, 13 Jun 2024 11:50:46 GMT</pubDate><enclosure url="https://bitcoinmagazine.com/.image/c_fit%2Ch_800%2Cw_1200/MjA3MTIzMDc4MjUyMDc4MTI5/msddd.jpg" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><a href="https://bitcoinmagazine.com/tags/microstrategy">MicroStrategy</a>, led by CEO Michael Saylor, announced it will <a href="https://www.microstrategy.com/press/microstrategy-announces-proposed-private-offering-of-500m-of-convertible-senior-notes_06-13-2024">raise $500 million</a> through a private offering of convertible senior notes. The proceeds will fund additional purchases, furthering its corporate Bitcoin accumulation strategy.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">BREAKING: 🇺🇸 MICROSTRATEGY TO RAISE $500 MILLION IN STOCK SALE TO BUY MORE <a href="https://twitter.com/hashtag/BITCOIN?src=hash&amp;ref_src=twsrc%5Etfw">#BITCOIN</a> <a href="https://t.co/ALsb7znGEZ">pic.twitter.com/ALsb7znGEZ</a></p>&mdash; Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1801203057012711747?ref_src=twsrc%5Etfw">June 13, 2024</a></blockquote> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <p>MicroStrategy is already the largest public company holder of Bitcoin, with over <a href="https://bitcoinmagazine.com/markets/microstrategy-bought-122-bitcoin-in-april-now-holds-214400-btc">214,400 BTC worth $15 billion</a> on its balance sheet. Starting in 2020, under Saylor's direction, it adopted Bitcoin as its primary reserve asset.</p><p>It's average purchase price per Bitcoin remains around $35,000. With Bitcoin trading near $68,000, the firm is still significantly in the green on its holdings.</p><p>The latest $500 million capital raise comes via selling convertible senior notes to qualified institutional buyers. The notes will pay interest semiannually and mature in 2032 unless converted or redeemed earlier.</p><p>According to the <a href="https://www.microstrategy.com/press/microstrategy-announces-proposed-private-offering-of-500m-of-convertible-senior-notes_06-13-2024">announcement</a>, MicroStrategy may use the funds for general corporate purposes, but Bitcoin acquisition remains the priority. The company will also grant initial purchasers an option to buy an additional $75 million of notes.</p><p>MicroStrategy's Bitcoin-buying obsession has made it a Wall Street proxy for Bitcoin itself. The company's stock often rises and falls with Bitcoin's price movements, with investors betting on BTC's upside.</p><p>With this latest capital injection, MicroStrategy is signaling its conviction that Bitcoin will continue appreciating over the long term. <a href="https://bitcoinmagazine.com/tags/michael-saylor">Saylor </a>is ready to double down by acquiring more coins while prices remain relatively low.</p>]]></content:encoded><media:thumbnail url="https://bitcoinmagazine.com/.image/c_fit%2Ch_800%2Cw_1200/MjA3MTIzMDc4MjUyMDc4MTI5/msddd.jpg"/><media:content medium="image" type="image/jpeg" url="https://bitcoinmagazine.com/.image/c_fit%2Ch_800%2Cw_1200/MjA3MTIzMDc4MjUyMDc4MTI5/msddd.jpg"><media:title>msddd</media:title></media:content></item>