MicroStrategy finalized a $3 billion offering of 0% convertible senior notes due 2029, part of its plan to raise $42 billion over three years to buy more Bitcoin. The firm could acquire 30,600 BTC with the funds.
The offering follows a Nov. 18 announcement to raise $1.75 billion, later increased to $2.6 billion. MicroStrategy, which holds 331,200 BTC worth $32.7 billion, aims to achieve its “21/21” strategy: $21 billion in equity and $21 billion in fixed-income securities.
The firm’s shares dropped 25% on Nov. 21 as the news broke.
Source: Cointelegraph
