Having already announced the issue of $600 million in convertible bonds earlier this month, MicroStrategy is now looking to repeat the operation for a further $500 million. Profits from this sale will be used, among other things, to buy more and more Bitcoin (BTC).

MicroStrategy plans to issue a new wave of convertible bonds

Just ten days ago, MicroStrategy announced a $600 million convertible bond issue, with the aim of buying Bitcoin (BTC). On Wednesday, the company almost doubled the stakes, announcing its intention to issue a further $500 million in debt, under similar conditions:

“MicroStrategy intends to use the net proceeds from ticket sales to acquire additional bitcoins and for general corporate purposes.”

Also convertible into shares, these bonds will mature on March 15, 2031, with interest paid semi-annually on March 15 and September 15 of each year.

This time, the total amount can be increased to a further $75 million for initial institutional investors wishing to increase the size of their position.

While trading at $718 just a month ago, MSTR shares have now surpassed $1,760, bringing MicroStrategy’s market capitalization to almost $30 billion. This puts the company in 290th place among the largest US companies, according to data from the Companies Market Cap website.

Meanwhile, the company also announced this week that it had increased its BTC reserves to 205,000 units, or almost 1% of the asset’s total supply. This brings the value of the said reserve to nearly over $14.95 billion, or almost half of MicroStrategy’s capitalization.

This week, Coinbase presented similar plans, issuing $1 billion in bonds convertible into Class A shares.

For its part, BTC continues to evolve in a so-called “price discovery” zone, with a price of $72,900 at the time of writing, down 0.37% over the last 24 hours.

Source : MicroStrategy