MicroStrategy Plans Another $500 Million Private Offering of Convertible Senior Notes, Will Use Proceeds to Buy Bitcoin

MicroStrategy, a business intelligence firm, recently announced that it is planning to sell $500 million in senior convertible notes in a private offering to qualified institutional buyers. The proceeds from this private placement are set to be used to purchase additional Bitcoin.

A senior convertible note is a type of debt that can be converted into a company’s shares. It’s considered “senior” debt because in the case of bankruptcy, it must be repaid before other creditors.

The company has been aggressive in its