• MicroStrategy increased its convertible debt offer to $700 millions from $600 to buy bitcoin.
  • The conversion rate of the notes is 42.5% higher than March 5’s closing price.

BTC Price Index and Live Chart – CoinDesk”>(BTC).

MicroStrategy, a announcement released on Wednesday, said that the Tysons Corner-based company, founded by Michael Saylor, a staunch advocate of bitcoin, was now looking to raise $750 million through convertible senior notes with an interest rate per annum of 0.625%.

The company also announced the pricing for its convertible debt. The initial conversion rate will be $1,497.68, which is 42.5% higher than Tuesday’s closing price.

MicroStrategy has the largest bitcoin stockpile among publicly traded companies. Its 193,000 BTC, worth $13 billion today, is the result of years of relentless accumulation.

MicroStrategy shares were trading at around $1,227.02 when this article was written, an increase of nearly 17% for the day. The stock dropped by a similar amount Tuesday, as the bitcoin price fell below $64,000 following a new high of $69,000.

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Aoyon A. Ashraf is the editor.