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MicroStrategy Continues Bitcoin Buying Spree with Additional $500 Million Debt Raise

In a bold stride within the cryptocurrency market, MicroStrategy has announced its intention to offer up to nearly $600 million in convertible senior notes, set to mature in 2030. This decision comes on the heels of a recent $800 million note sale completed just days prior.

The company’s aggressive investment strategy doesn’t stop there. Following last week’s substantial debt raise, MicroStrategy is gearing up to sell an additional $500 million in debt. The objective? To acquire even more bitcoin as the cryptocurrency’s value skyrockets past the $70,000 mark.

Investors interested in this venture can look forward to senior notes maturing on March 15, 2031. MicroStrategy’s statement on Wednesday clarified that these notes would yield interest-payable arrears, disbursed biannually. Moreover, the company offers flexibility to investors, allowing them to convert part or all of the notes into cash, as per their preference.

This latest sale is a continuation of MicroStrategy’s recent bitcoin acquisition frenzy, having invested over $800 million in the digital currency earlier in the week. The market has responded favorably to these moves, with MicroStrategy’s shares climbing to $1,766, marking a 10% increase in just 24 hours. Over the past year, the company’s stock has experienced a meteoric rise of over 170%.

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