Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
MicroStrategy completes $3 billion notes offering to buy more Bitcoin

MicroStrategy completes $3 billion notes offering to buy more Bitcoin

Cryptobriefing2024/11/22 04:11
By:Cryptobriefing

Key Takeaways

  • MicroStrategy raised $3 billion through zero-percent convertible notes maturing in 2029.
  • Proceeds from the notes will be used for acquiring additional Bitcoin and general corporate purposes.

MicroStrategy has successfully completed its previously announced offering of $3 billion in 0% convertible senior notes due 2029, according to a company press release.

The company received $2.97 billion in net proceeds, which will be used primarily to acquire more Bitcoin and support general corporate purposes, aligning with MicroStrategy’s strategy of accumulating Bitcoin as its primary treasury reserve asset.

The offering reflects strong demand from institutional investors, with the company initially planning to raise $1.75 billion but increasing it to $2.6 billion due to overwhelming interest.

As the world’s first publicly traded Bitcoin treasury company, MicroStrategy has positioned itself as a leader in the digital asset space, holding more than 331,000 Bitcoin valued at approximately $32 billion at the time of writing.

This approach has attracted investors seeking indirect exposure to Bitcoin, driving MicroStrategy’s stock price up over 500% since the beginning of the year—surpassing every company in the S&P 500.

MicroStrategy’s market capitalization recently surpassed the $100 billion milestone, reflecting investor confidence in its Bitcoin-centric strategy.

However, the company’s market cap has since declined to approximately $85 billion, with its stock down 16% at market close.

Bitcoin’s 120% year-to-date rally has further reinforced the company’s position as one of the standout performers of the year.

The privately sold unsecured notes are convertible into cash, stock, or both at a $672.40 per share price, a 55% premium over the November 19, 2024, stock price.

Starting December 4, 2026, MicroStrategy can redeem the notes for cash if its stock reaches 130% of the conversion price.

Holders can also demand repurchase on June 1, 2028, or during fundamental changes, at 100% of the principal plus accrued interest.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!