MicroStrategy’s Bitcoin Ambitions: $700 Million Fundraise For Further Acquisitions

Quick Summary:

On Monday, business intelligence firm Microstrategy, led by Bitcoin (BTC) advocate Michael Saylor, announced its intention to offer $700 million in convertible senior notes due 2028 as part of a broader strategy to strengthen its Bitcoin portfolio while restructuring existing debt.

This redemption will not only reduce the company’s debt burden but will also release collateral previously securing these notes, which includes approximately 69,080 BTC.

At the time of writing, Bitcoin stands at $57,760, recording losses of 3.5% in the past 24 hours.

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Article Details

Author / Journalist: Ronaldo Marquez

Category: Crypto

Markets: Hungary

Topics: Btc Crypto news Btcusd Bitcoin News Bitcoin price MicroStrategy Bitcoin news MicroStrategy Bitcoin Bet Crypto MicroStrategy news BTCUSDT MicroStrategy Bitcoin Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-17 @ 04:00:24 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 454 words

Reading Time: 3 minutes read

Sentences: 31 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 22558290

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About Bitcoinist

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