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MicroStrategy is the publicly traded company that accumulates the largest amount of Bitcoin.
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The company’s president, Saylor, has a bullish thesis for bitcoin in the coming decades.
MicroStrategy, the publicly traded company known for being the largest institutional holder of bitcoin (BTC), has taken a new step in its accumulation strategy.
The company raised $3 billion by issuing convertible bonds senior at 0% interest, maturing in 2029. According to the official statement, published this November 21, most of these funds will be used to purchase more bitcoin.
“MicroStrategy’s intention is to use the net proceeds from the sale of the notes to purchase additional bitcoin and for general corporate purposes,” declared the company.
The offering, conducted privately and intended exclusively for qualified institutional buyers, included an additional $400 million in bonds issued through a call option exercised in full by the initial buyers on November 20. This brought the total amount raised to $3 billion.
The notes, which do not earn regular interest or accumulate value, have a conversion premium of 55%, with an initial price of $672.40 per MicroStrategy Class A share. This price is significantly higher than the weighted average of $433.80 recorded recently, the company details.
MicroStrategy strengthens its position as a leader in bitcoin reserves
The company led by Michael Saylor, which already owns more than 300,000 BTC As CriptoNoticias has reported, it continues to consolidate itself as a key player in the institutional adoption of bitcoin. Its business model combines bitcoin-based treasury with the development of business analytics software powered by artificial intelligence.
“We believe that our treasury strategy, designed to provide economic exposure to bitcoin, along with our focus on technological innovation, positions MicroStrategy as a leader in both digital assets and business analytics,” the company states.
With this new fundraising, MicroStrategy takes another step towards its goal of accumulating as much bitcoin as possible, reinforcing its conviction that the digital asset is a key tool to preserve value in the long term.
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