MicroStrategy has announced the issuance of new convertible notes worth $700 million. The proceeds from the offering will be used to purchase additional bitcoin, as well as to fund general corporate needs.
The notes will have a maturity of four years and will provide holders with the option to convert them into common shares of the company at a certain rate. This will allow investors to participate in the potential growth in the value of MicroStrategy shares associated with further increases in its bitcoin reserves.
