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MicroStrategy to Issue $700M Convertible Notes to Buy More Bitcoin

  • MicroStrategy plans to raise $700 million via convertible notes to buy Bitcoin and pay off debt.
  • $500 million will be used to repay existing senior secured notes due in 2028 with a 6.125% interest rate.
  • MicroStrategy will use the remaining funds for buying more Bitcoin and general business expenses.
  • CEO Michael Saylor believes Bitcoin purchases add value to the company's overall performance.

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