MicroStrategy has announced its intention to sell $500 million in convertible notes specifically to finance the purchase of more Bitcoin.
The company, which currently owns 214,400 BTC, worth approximately $14.52 billion, owns more than 1% of Bitcoin’s total circulating supply.
The bonds, which mature in 2032, are aimed at qualified institutional buyers, with an option to increase sales by $75 million within the first 13 days.
The move to sell bonds for Bitcoin investments highlights MicroStrategy’s strategic emphasis on the digital currency as a key asset, with its holdings already larger than those of any other corporate entity.
The notes will earn interest semiannually and can be converted into MicroStrategy shares or cash under specific conditions.
This initiative is part of a broader trend of MicroStrategy’s blockchain efforts, including leveraging Bitcoin’s blockchain to improve digital identity security.
In the broader business landscape, MicroStrategy’s investment moves are indicative of an emerging trend of companies increasingly incorporating cryptocurrency into their treasury strategies.
Michael Saylor, the company’s founder and chairman, is an outspoken supporter of Bitcoin.
