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**MicroStrategy to Raise $700M for Bitcoin Expansion**
**By Andrew Hayward and Mat Di Salvo**
*September 16, 2024*
MicroStrategy plans to raise $700 million through a private offering of convertible senior notes. The company, which holds over $14 billion in Bitcoin, will use $500 million to redeem existing debt due in 2028. Remaining funds will be directed toward purchasing additional Bitcoin and other corporate needs.
With a current Bitcoin holding of 244,800 BTC, valued at $14.2 billion, MicroStrategy aims to further solidify its position. The firm’s stock has surged over 800% since it began acquiring Bitcoin in 2020.
**What do you think?**
- How will this new funding affect Bitcoin’s price?
- Is the company’s strategy of using debt for Bitcoin a smart move?
Share your thoughts below.
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