MicroStrategy increases note sales to $2.6B for Bitcoin purchases
2024-11-20

MicroStrategy, the largest corporate holder of Bitcoin, announced it has increased its upcoming note sale to $2.6 billion, signaling bullish expectations for Bitcoin's potential to surpass the $100,000 mark.
MicroStrategy, the largest corporate Bitcoin BTCUSD holder, is set to raise $2.6 billion from senior convertible notes at a 0% interest rate to buy more BTC.
The note sale was upsized from the previously announced offering of $1.75 billion aggregate principal amount of notes, the firm shared in a Nov. 20 announcement.
The $2.6 billion offering is targeting “qualified institutional buyers” and is expected to close on Nov. 21, 2024, subject to satisfaction of customary closing conditions.
MicroStrategy’s note sale could help push Bitcoin price above the $100,000 mark for the first time in history. The announcement comes as Bitcoin is trading above $93,970 as of 1:30 pm UTC, up over 37% during the past month, Cointelegraph data shows.
This is a developing story, and further information will be added as it becomes available.