MicroStrategy announced plans to raise a total of $2.6 billion by issuing interest-free convertible bonds due 2029. The company stated that it will use these proceeds to expand its Bitcoin portfolio and meet its institutional needs. While the initial target for the bonds, which are only available to qualified institutional investors, was $1.75 billion, this figure was increased to $2.6 billion due to popular demand.
MicroStrategy already owns a total of 331,200 Bitcoins and aims to further increase this amount with bond proceeds. The company's decision to maintain its investments despite Bitcoin's price records is considered an indication of its long-term confidence in BTC. The conversion rate of the bonds was set equal to 1.4872 shares per 1,000 dollars.
