MicroStrategy Aims to Raise $600 Million in Order to Buy More Bitcoin
MicroStrategy (NASDAQ: MSTR) published a press release on Tuesday morning announcing that it plans to raise $600 million through the private sale of convertible senior notes. The proceeds of the sale would go toward buying more Bitcoin (CRYPTO: BTC).
The option to purchase the notes will be available only to qualified institutional buyers, and MicroStrategy also plans to offer initial purchasers an option to buy more notes in an additional offering in the amount of $90 million. That would bring the fundraising target raised through the potential sale to $690 million, with all net proceeds intended to go toward buying more Bitcoin tokens.
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Source Fool.com
