{"id":444213,"date":"2024-09-18T19:08:28","date_gmt":"2024-09-18T18:08:28","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=444213"},"modified":"2024-09-18T19:08:28","modified_gmt":"2024-09-18T18:08:28","slug":"microstrategy-boosts-bitcoin-buying-power-with-875m-convertible-debt-offering","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/microstrategy-boosts-bitcoin-buying-power-with-875m-convertible-debt-offering\/","title":{"rendered":"MicroStrategy boosts Bitcoin buying power with $875M convertible debt offering"},"content":{"rendered":"<p><a href=\"https:\/\/cryptoslate.com\/companies\/microstrategy\/\">MicroStrategy<\/a> has increased its convertible debt offering to $875 million from $700 million to purchase more <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">Bitcoin<\/a>, according to a Sept. 18 <a href=\"https:\/\/www.microstrategy.com\/press\/microstrategy-announces-pricing-of-offering-of-convertible-senior-notes_09-18-2024\">statement<\/a>.<\/p>\n<p>The Virginia-based company aims to raise these funds by selling convertible senior notes with an interest rate of 0.625% annually. These unsecured senior obligations will be available to institutional investors in a private sale. The notes are set to mature in September 2028.<\/p>\n<p>The company also revealed plans to offer initial buyers an option to purchase an additional $135 million in notes within 13 days of the first issuance.<\/p>\n<p>MicroStrategy estimates that the net proceeds from this sale will reach approximately $864.1 million. The firm plans to redeem $500 million of its 6.125% Senior Secured Notes due in 2028 with part of the proceeds, while the remaining funds will be used to buy more Bitcoin and for general corporate purposes.<\/p>\n<p>If initial buyers exercise the option to purchase more notes, proceeds could reach $997.4 million.<\/p>\n<p>The notes' conversion rate is set at 5.4589 shares of MicroStrategy class A common stock per $1,000 principal amount, which represents a 40% premium.<\/p>\n<p>This move follows MicroStrategy's recent purchase of <a href=\"https:\/\/cryptoslate.com\/microstrategy-buys-1-1-billion-in-bitcoin-amid-market-volatility\/\">18,300 Bitcoin for $1.11 billion<\/a>. The firm's total Bitcoin holdings now stand at 244,800 BTC, worth $9.45 billion, or $38,585 per Bitcoin. MicroStrategy reported that its BTC holdings have seen a 4.4% quarterly-to-date yield and a 17% year-to-date yield.<\/p>\n<p>Following this news, MicroStrategy's stock increased by 2% in intraday trading to $133.23 per share. The stock has surged more than 110% over the past year, according to Yahoo Finance data.<\/p>\n<h2>&#8216;Hot Sauce'<\/h2>\n<p>MicroStrategy's latest move coincides with REX Shares and Tuttle Capital Management launching new exchange-traded funds (ETFs) that offer 200% leveraged exposure and -200% inverse exposure to the company's MSTR shares daily price movements.<\/p>\n<p>According to a Sept. 18 <a href=\"https:\/\/www.businesswire.com\/news\/home\/20240918234978\/en\/REX-Shares-and-Tuttle-Capital-Management-Launch-2x-Leveraged-and-Inverse-MSTR-Daily-Target-ETFs\">announcement<\/a>, the T-REX 2X Long MSTR Daily Target ETF (MSTU) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) will trade on the Cboe BZX Exchange.<\/p>\n<p>Bloomberg senior ETF analyst Eric Balchunas <a href=\"https:\/\/x.com\/EricBalchunas\/status\/1836405902015922437\">commented<\/a> that REX and Tuttle &#8220;re-broke the volatility barrier&#8221; with these ETFs, estimating their volatility to be about 15 times higher than that of the S&P 500.<\/p>\n<p>Balchunas added that the new ETFs will likely outperform <a href=\"https:\/\/cryptoslate.com\/south-koreas-national-pension-fund-invests-80m-in-microstrategy-and-coinbase\/\">Defiance's 1.75x leveraged MSTR ETF<\/a>, which has already seen strong demand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MicroStrategy has increased its convertible debt offering to $875 million from $700 million to purchase more Bitcoin, according to a Sept. 18 statement. The Virginia-based company aims to raise these funds by selling convertible senior notes with an interest rate of 0.625% annually. These unsecured senior obligations will be available to institutional investors in a [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":444219,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,77968],"tags":[76769,76418],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MicroStrategy boosts Bitcoin buying power with $875M convertible debt offering<\/title>\n<meta name=\"description\" content=\"MicroStrategy elevates Bitcoin investment with expanded $875M debt offering.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/microstrategy-boosts-bitcoin-buying-power-with-875m-convertible-debt-offering\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MicroStrategy boosts Bitcoin buying power with $875M convertible debt offering\" \/>\n<meta property=\"og:description\" content=\"MicroStrategy elevates Bitcoin investment with expanded $875M debt offering.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/microstrategy-boosts-bitcoin-buying-power-with-875m-convertible-debt-offering\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-18T18:08:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/09\/microstrategy-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/microstrategy-boosts-bitcoin-buying-power-with-875m-convertible-debt-offering\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/microstrategy-boosts-bitcoin-buying-power-with-875m-convertible-debt-offering\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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