MSTR - MicroStrategy Raises $800M Buys More Bitcoin Amid Sizzling Rally: What Investors Need To Know (CORRECTED) | Benzinga
Editor’s Note: This article has been updated to clarify that MicroStrategy has already used the $800M raised to buy more Bitcoin.
Michael Saylor-led MicroStrategy Inc. (NASDAQ:MSTR) said it has raised $800 million by selling convertible notes — essentially special loans that can be converted into company stock later.
Investors bought all the notes offered, with an additional $100 million option fully exercised, the company said in a statement.
Here’s the breakdown:
- Amount Raised: $800 million
- Interest Rate: Low (0.625% per year)
- Maturity Date: March 15, 2030 (unless converted to stock earlier)
How MicroStrategy Will Use the Money:
MicroStrategy used this new funding to buy even more Bitcoin (CRYPTO: BTC), which early on Monday broke the $70,000 barrier and is set to rise even higher, as per many analysts.
Key Details For Investors:
- The notes can’t be easily traded and were only sold to large institutions.
- MicroStrategy said it can buy back the notes under certain conditions after March 2027, ...