-
MicroStrategy
raised
its
latest
convertible
note
offering
by
$200
million
from
an
original
plan
of
$500
million. -
It
also
offered
initial
buyers
an
option
to
purchase
an
additional
$100
million
of
the
notes. -
Broker
Bernstein
set
a
$2,890
price
target
for
the
company’s
shares.
-
08:42
Bitcoin
Ecosystem
Developments
in
2023
as
BTC
Hits
Fresh
2023
High -
01:10
Bitcoin
Extends
Rally
as
$1B
in
BTC
Withdrawals
Suggests
Bullish
Mood -
1:02:43
Why
Financial
Advisors
Are
So
Excited
About
a
Spot
Bitcoin
ETF -
08:48
Binance
Processes
Nearly
$1B
in
Net
Outflows
As
CEO
CZ
Resigns
Nasdaq-listed
software
firm
MicroStrategy
(MSTR),
the
largest
corporate
holder
of
bitcoin
(BTC),
increased
its
convertible
note
offering
by
40%
to
$700
million
and
priced
it
to
offer
a
2.25%
annual
yield.
The
notes,
available
to
institutional
investors
in
a
private
offering,
will
be
unsecured,
senior
obligations
and
mature
in
June
2032,
the
company
said
in
a
Friday
press
release.
The
Tysons
Corner,
Virginia-based
company
also
granted
initial
buyers
an
option
to
purchase
an
additional
$100
million
of
notes
within
13
days
of
the
first
issuance.
The
company
expects
to
close
the
offering
on
Monday.
The
proceedings
of
the
issuance
will
be
used
to
acquire
more
bitcoin
and
for
general
corporate
affairs.
The
company’s
shares
added
nearly
2%
in
the
early
Friday
session,
changing
hands
at
slightly
above
$1,500
following
yesterday’s
7.5%
decline.
Earlier
today,
brokerage
firm
Bernstein
initiated
coverage
of
Microstrategy,
setting
a
$2,890
price
target
and
assigning
an
outperform
rating.
MicroStrategy
started
buying
the
oldest
and
largest
crypto
asset
in
2020
for
its
treasury.
Now,
it
holds
214,400
BTC
worth
some
$14
billion,
making
the
company
the
biggest
publicly
listed
bitcoin
holder.
The
company’s
executive
chairman,
Michael
Saylor,
is
a
vocal
supporter
of
bitcoin.