MicroStrategy intends to increase its holdings of Bitcoin, but the stock is declining strongly!
News reports said today, Thursday, that MicroStrategy intends to raise capital through convertible bonds for the second time in less than 10 days with the aim of purchasing more bitcoins, as the strong cryptocurrency investor looks to increase his exposure to bitcoin, which has achieved strong increases over the days. last few.
After the markets closed yesterday, Wednesday, the American software company announced that it is offering $500 million in the form of convertible bonds due in 2031 to institutional investors with the aim of purchasing more digital Bitcoin currencies, even though it had announced a private offering worth $600 million in the form of... Convertible bonds on March 5th.
The giant company added that it will market corporate bonds with a return ranging between 0.375% and 0.875%, with a conversion option when the stock rises by 40% to 45% above current levels, according to LSEG IFR data.
It is worth noting that MicroStrategy, which began buying and holding bitcoins in 2020, is considered the largest owner of the cryptocurrency as revenues from its software business declined in 2022 and 2023.