MicroStrategy Boosts Bitcoin Holdings with $2.6B Debt Deal
TL;DR Summary
Microstrategy (NASDAQ:MSTR) announced an upsized offering of $2.6 billion in 0% convertible senior notes due 2029, with an option to increase to $3 billion, to fund further Bitcoin purchases. The company, which has been heavily investing in Bitcoin since 2020, now holds 331,200 tokens. This move aligns with investor hopes for a more crypto-friendly U.S. administration under President-elect Donald Trump. MSTR stock rose 10.93% following the announcement, reflecting its strong correlation with Bitcoin's recent rally to $94,000. Analysts rate MSTR as a Strong Buy, despite potential downside risks.
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- MicroStrategy Stock Is Surging Wednesday: What's Going On? Benzinga
- MicroStrategy Announces Pricing of Offering of 0% Convertible Senior Notes Business Wire
- MicroStrategy Keeps Fueling Bitcoin Buying With New $2.6 Billion Debt Deal Barron's
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