Breaking: MicroStrategy Upsizes Notes Offering To Buy More Bitcoin, MSTR Stock Dips

Michael Saylor, executive chairman of MicroStrategy, on Wednesday said the company has upsized convertible senior notes offering from $700 million to $875 million. This will help the company to buy even more Bitcoin. Meanwhile, MSTR stock price fell over 1% in response today.

Michael Saylor Upsizes MicroStrategy Debt Offering to $875 Million

Virginia-based business intelligence firm MicroStrategy is now looking to raise $875 million through the sale of convertible senior notes at an interest rate of 0.625% per annum, MicroStrategy announced on September 18.

Michael Saylor took to X to reach out to the wider crypto community about upsizing the notes offering to buy even more Bitcoin. On Monday, the company announced plans to offer a private offering of $700 million in convertible senior notes.

MicroStrategy Announces Pricing of Offering of Convertible Senior Notes $MSTR https://t.co/xIsCTvCBgH

— Michael Saylor (@saylor) September 18, 2024

The move comes after the company acquired 18,300 BTC worth $1.11 billion. MicroStrateg’s total BTC holdings has increased to 244,800 BTC valued at $9.45 billion, which accounts for $38,585 per BTC. The firm has achieved a BTC Yield of 4.4% QTD and 17.0% YTD. The current profit is $4.71 billion.

The MicroStrategy shares were trading around $129.38 at the time of writing, down nearly 1.44%. MSTR stock price closed 2.42% lower at $131.27 on Tuesday. Moreover, the price is down 3% in a month.

Meanwhile, BTC price pared earlier gains and currently trades at $59,875. The 24-hour low and high are $58,901 and $61,316, respectively. Furthermore, the trading volume has increased by 35% ahead of the expected 50 bps interest rate cuts by the U.S. Federal Reserve.

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