MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes.
Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin’s total supply, which is capped at 21 million BTC.
The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.
See Related: Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings
Semler Scientific Announcement
Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.
Metaplanet, a Japanese investment firm, shared that the company now held 141 BTC since April. The strategic move is said to hedge against Japan’s debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.
Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.
