MicroStrategy Announces $700M Debt Offering to Buy More Bitcoin

The company plans to use the proceeds to redeem existing debt and expand its Bitcoin holdings.

MicroStrategy's third debt offering of 2024 aims to raise $700 million through convertible senior notes due in 2028.
The proceeds will be used to pay off $500 million in existing senior secured notes and to purchase additional Bitcoin.
MicroStrategy currently holds 244,800 BTC, valued at approximately $14.2 billion.
The company has experienced financial volatility due to its large Bitcoin holdings, posting a net loss of $102.6 million in Q2 2024.
Despite financial challenges, MicroStrategy's stock has surged nearly 295% over the past year.