30s Summary

MicroStrategy plans to increase its upcoming convertible note sale from $1.75 billion to $2.6 billion, with the raised money intended for buying more Bitcoin. The company believes Bitcoin’s value will surpass $100,000. The sale, aimed at large institutional buyers, should close by November 21, 2024. This move may potentially elevate Bitcoin’s price over the $100,000 mark for the first time. Bitcoin’s current value is over $93,970, indicating a 37% growth in the last month.

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MicroStrategy, the business world’s champ when it comes to Bitcoin holding, has revealed they’re ramping up their upcoming note sale to a whopping $2.6 billion. This move shows their strong belief that Bitcoin’s value might eventually cross the $100,000 mark.

This big-name Bitcoin enthusiast plans to raise $2.6 billion by selling senior convertible notes at a zero interest to get their hands on even more Bitcoin. They had originally planned to raise a smaller amount – around $1.75 billion – through the sale, as they had announced on Nov. 20.

The $2.6 billion that they’re looking to raise is aimed at attracting big-time institutional buyers and is hoped to be sealed by Nov. 21, 2024. – subject to routine closing conditions coming through.

This big move by MicroStrategy might end up pushing the Bitcoin price over the $100,000 milestone for the first time in history. This announcement bubbles up as Bitcoin is currently trading over $93,970, marking an impressive 37% growth in the past month.

Continue to check in as more details about this story become available.