Public company MicroStrategy, one of the first to invest heavily in Bitcoin, announced a project to raise an extra $600 million to buy more digital currency.
In a February 16 press release, MicroStrategy declared it intends to offer eligible institutional stakeholders a private offering of $600 million worth of convertible bonds due to be redeemed in 2027.
The bonds will be converted into cash, MicroStrategy A shares, or a combination of MicroStrategy A cash and shares of MicroStrategy’s choice.
This is not the first time the company has used this method to raise more money and buy BTC with it. In December, through the sale of securities, the organization invested $650 million in the main cryptocurrency.
At the time of the announcement, the price of Bitcoin had just crossed the $50 thousand mark. Therefore, the company understands that a new batch of coins will cost much more. This suggests that MicroStrategy believes in further climbing to new highs.
