MicroStrategy is raising funds to buy more Bitcoin

One of the largest institutional holders of Bitcoin, MicroStrategy, announced today that it intends to offer, subject to market conditions and other factors, an aggregate of $2032 million of convertible senior notes due 500 in a private offering to qualified persons to be considered qualified institutional buyers.

MicroStrategy also expects to grant the initial purchasers of the notes an option to purchase, within a 13-day period beginning on the date the notes are first issued, up to $75 million in aggregate principal amount of the notes.

The offering is subject to market and other conditions and there can be no assurance as to whether, when or under what conditions it may be made.

According to the information MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional Bitcoin tokens and for general corporate purposes.