"MicroStrategy's $600M Convertible Notes Sale Fuels Bitcoin Buying Spree"

MicroStrategy plans to sell $600 million in senior convertible notes to fund Bitcoin purchases and for general corporate purposes, marking its second announced $600 million bond sale in less than a month. The firm, which holds 193,000 Bitcoin worth just under $13 billion, saw its stock rise 25% as Bitcoin approached all-time highs. The notes will mature in 2030 and bear interest payable semi-annually, with an option for early buyers to purchase an additional $90 million worth of notes. The announcement comes amid surging demand for Bitcoin, driven by factors including the success of US spot Bitcoin exchange-traded funds and an upcoming halving event.