Business intelligence firm MicroStrategy has announced plans to raise $1.75 billion through the sale of zero-interest convertible notes. The company intends to use the funds to purchase more Bitcoin.
This move comes as no surprise, as MicroStrategy has been a vocal advocate for investing in the popular cryptocurrency. The company already holds a significant amount of Bitcoin on its balance sheet, and this latest fundraising effort will allow them to further increase their holdings.
The decision to issue zero-interest notes is an interesting one, as it essentially means that MicroStrategy will not have to pay any interest on the funds raised. This could be seen as a strategic move to take advantage of the current low interest rate environment.
Overall, this development highlights MicroStrategy’s continued confidence in Bitcoin as a long-term investment. It will be interesting to see how the company’s Bitcoin holdings evolve in the coming months as a result of this latest fundraising effort.