MicroStrategy filed for a $500 million convertible senior notes offering on Wednesday afternoon and plans to use the proceeds to buy more Bitcoin.
Assuming Bitcoin prices remain at current levels around $73,000, MicroStrategy will be able to use the funds from this latest raise to purchase an additional 6,800 Bitcoins. (CoinDesk)
According to previous news, MicroStrategy completed the issuance of US$800 million in convertible senior notes and purchased 12,000 Bitcoins for US$821.7 million between February 26 and March 10. The average price of each Bitcoin was US$68,477. As of March 10, MicroStrategy and its subsidiaries held a total of approximately 205,000 Bitcoins, with a total purchase price of $6.81 billion, and an average purchase price of $33,706 per Bitcoin.