MicroStrategy will use proceeds from convertible note sale to add to bitcoin stash

MicroStrategy’s stock was up over 20% in intraday trading Monday

article-image

JHVEPhoto/Shutterstock modified by Blockworks

share

MicroStrategy’s ready to add to its bitcoin stash, and it’s utilizing a $600 million private offering of convertible senior notes to do it. 

According to a press release on Monday, the company intends to use the “net proceeds from the sale of the notes to acquire additional bitcoin and for general corporate purposes.”

The announcement comes as bitcoin nears its all-time high of $69,000, and the company’s stock, which trades under the ticker MSTR, nears highs not seen in over 20 years. 

The stock closed the day up 23% to $1,334 a share. Over the past year, MicroStrategy is up 461%. Following the announcement, the stock tumbled 5% in after-hours trading.

Read more: Bitcoin ETFs now hold nearly 4% of all bitcoin — and they’re not slowing down

“The notes will be unsecured, senior obligations of MicroStrategy and will bear interest payable semi-annually in arrears on March 15 and Sept. 15 of each year, beginning on Sept. 15, 2024. The notes will mature on March 15, 2030, unless earlier repurchased, redeemed or converted in accordance with their terms,” the company explained in the press release.

Offering senior notes — which is a debt security — is a way for the company to raise funds. 

The software company is well-known for its bitcoin holdings. In February, it increased those holdings to 193,000 bitcoin worth nearly $13 billion at current prices. As of publication time, bitcoin (BTC) was trading around $67,000.

Read more: Is MicroStrategy stock better than a spot bitcoin ETF?

The company added 850 more bitcoin to its balance sheet just last month

Michael Saylor, co-founder of MicroStrategy, reaffirmed his bullish stance on bitcoin. Last month, he told Bloomberg TV that “bitcoin is the exit strategy.”

Bitcoin’s price has been on a tear since last week, as bitcoin flirts with its all-time high — and surpasses levels not seen since 2021 — and the bitcoin ETFs notched record volumes


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (1).jpg

Research

As AI supercharges surveillance, privacy becomes a prerequisite and the winning stack will combine confidentiality with selective disclosure. Zcash’s Tachyon, composable standards on Ethereum/Solana, and compliance-aware pools aim to make private rails the new norm.

article-image

The derivatives giant will extend futures and options access to round-the-clock trading in early 2026

by Blockworks /
article-image

Global fiber network goes live as SEC clears 2Z token for utility use

by Blockworks /
article-image

The SPAC transaction positions Avalanche Treasury Co. as a Nasdaq-listed vehicle for institutional AVAX exposure by 2026

by Blockworks /
article-image

The collaboration brings regulated money market fund exposure to Polygon, with custody provided by Standard Chartered

by Blockworks /
article-image

FG Nexus teams with Securitize to bring its Nasdaq-listed equity onchain, offering tokenized stock trading through Ethereum

by Blockworks /
article-image

Sponsored

Taiko launches binding onchain governance and appoints three directors with expertise in global regulation, business strategy and blockchain tech

by Sponsored /