MicroStrategy plans to sell $2.60 billion in notes and use the proceeds to purchase BTC.

According to official news from Odaily Planet Daily, MicroStrategy plans to sell $2.60 billion worth of convertible senior notes and use the proceeds to purchase Bitcoin (increased from the previous $1.75 billion to $2.60 billion). These notes will be sold through a private placement, but only to qualified institutional buyers. MicroStrategy has also granted the initial purchasers of the notes an option to purchase up to $400 million in total principal of the notes within three days from the date of the initial issuance. This offering is expected to be completed by November 21, 2024, subject to customary closing conditions.