Michael Saylor\u2019s Strategy is looking to raise another $2 billion via 0% convertible notes to purchase more Bitcoin, potentially adding to the firm\u2019s 478,740 Bitcoin stash. <\/p>\n
<\/span> 7702 <\/span> Total views <\/span><\/p>\n 5 <\/span> Total shares <\/span><\/p>\n<\/div>\n The business intelligence services and Bitcoin buying firm formerly known as MicroStrategy is looking to raise another $2 billion through 0% senior convertible notes to purchase more Bitcoin.<\/p>\n The first note buyers have the option to buy up to an extra $300 million more worth of notes, which can be used within five business days after they\u2019re issued, Strategy said in a Feb. 18 statement<\/a>.\u00a0<\/p>\n The firm added it intends to use the net proceeds from the offering to buy more Bitcoin (BTC<\/a>) and for working capital.<\/p>\n Source: <\/em>Michael Saylor<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n Senior convertible notes are a debt security<\/a> that can be converted into equity at a later date. They\u2019re senior to common stock in the sense that holders have priority in the event of bankruptcy or liquidation.<\/p>\n Senior convertible notes<\/a> have been one of the main instruments Strategy has used to execute its 21\/21 Plan \u2014 targeting $42 billion in capital over the next three years, split equity and fixed-income securities \u2014 in order to buy more Bitcoin.\u00a0<\/p>\n The plan was orchestrated by Strategy\u2019s executive chairman and co-founder Michael Saylor.<\/p>\n The company has already completed over half of that $42 billion capital plan<\/a> since it was announced on Oct. 30 \u2014 purchasing nearly 200,000 Bitcoin since then, bringing its total stash to 478,740 Bitcoin and making it the world\u2019s largest corporate Bitcoin holder, BitBo\u2019s BitcoinTreasuries.NET data shows<\/a>.<\/p>\n Key Bitcoin metrics displayed on Strategy\u2019s new website. Source:<\/em> Strategy<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n The proposed notes will mature on March 1, 2030, unless earlier repurchased, redeemed or converted, and are \u201csubject to market and other conditions.\u201d Strategy said.<\/p>\n Related: <\/strong><\/em>12 US states hold a total of $330M stake in Saylor\u2019s Strategy: Analyst<\/strong><\/em><\/a><\/p>\n Strategy (MSTR) shares did not see a significant move on the news. MSTR closed down just over 1% on Feb. 18 and traded flat after hours, Google Finance data shows<\/a>.<\/p>\n Strategy shares are, however, up 372% over the last 12 months, making it one of the best performers<\/a> in the US stock market over the last year.<\/p>\n Despite the Bitcoin purchases, which were accompanied by a Bitcoin price rise, Strategy reported a $670.8 million net loss in Q4<\/a>.<\/p>\n Magazine:<\/strong><\/em> \u2018China\u2019s MicroStrategy\u2019 Meitu sells all its Bitcoin and Ethereum: Asia Express<\/strong><\/em><\/a><\/p>\n<\/picture><\/div>\n