MicroStrategy, the American business intelligence firm, has announced plans to raise $2 billion through private debt offerings to further expand its Bitcoin holdings. This follows a brief pause in Bitcoin purchases, marking the second such hiatus in just 14 weeks. The firm, led by Michael Saylor, is offering 0% Convertible Senior Notes, which are due on March 1, 2030. The notes will be available exclusively to qualified institutional buyers, with the potential to increase the offering by $300 million if oversubscribed.
The funds raised will primarily be used to acquire more Bitcoin, with any remaining proceeds directed towards general corporate purposes, such as working capital. Despite the recent pause in purchases, MicroStrategy remains committed to its strategy of acquiring Bitcoin, having already accumulated over 200,000 BTC, which accounts for more than 2% of the total Bitcoin supply.
The company recently rebranded itself from MicroStrategy to Strategy, reaffirming its focus on Bitcoin. Alongside Bitcoin purchases, Strategy has also been exploring the development of products for the Bitcoin ecosystem, including a decentralized identity service using Ordinals inscriptions to help expand Bitcoin’s utility for Web2 users.
MicroStrategy’s unwavering commitment to Bitcoin has inspired other corporate entities, such as Semler Scientific, Metaplanet, and Riot Platforms, to adopt similar Bitcoin investment strategies. This shift reflects the growing interest in Bitcoin within both the corporate and nation-state sectors, with discussions around Bitcoin and related exchange-traded funds (ETFs) gaining momentum across the US and other countries like Switzerland.
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