December 9, 2020 Microstrategy issues $550M in convertible notes to fund BTC purchase

MicroStrategy, a business intelligence software developer that recently adopted Bitcoin as its primary reserve currency, has announced it will issue $550M worth of convertible notes. The note will have annual returns of 0.75% and mature in December, 2025. The capital will be used by the firm to further invest in BTC. Sales are expected to close on December 12th.