- MicroStrategy (NASDAQ:MSTR) to privately offer $600M of convertible senior unsecured notes due February 15, 2027, with net proceeds used to purchase more Bitcoin (BTC-USD).
- Initial purchasers will be granted an option to purchase up to an additional $90M of the notes.
- The news looks to have caused a big move higher in Bitcoin, taking the price as high as $50.3K. That time above $50K didn't last too long, with Bitcoin now having moved back to $49.5K.
- Microstrategy is up 5% premarket.
- Previously: Bitcoin takes aim at $50K as more banks look to participate (Feb. 14)