Nov. 20, 2024, 5:41 PM UTC

MicroStrategy to Quicken Bitcoin Buying After Boosting Note Sale

Monique Mulima

MicroStrategy Inc. is accelerating its pace of Bitcoin buying by increasing the amount of convertible notes it’s selling by almost 50% to fund additional purchases of the cryptocurrency.

The once obscure software maker, which now calls itself a Bitcoin Treasury company, is moving rapidly to meet a goal announced last month of raising $42 billion in capital over the next three years to buy more Bitcoin. MicroStrategy said Monday that it bought a record $4.6 billion of the tokens, funded through an at-the—market stock share program. It will use the $2.6 billion raised from the 0% senior note offering to ...

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