MicroStrategy’s 0% senior convertible note means it will not need to pay regular interest to bondholders.
MicroStrategy, the largest corporate holder of Bitcoin, is set to raise $1.75 billion to buy more Bitcoin from senior convertible notes at a 0% interest rate.
MicroStrategy said it “intends to use the net proceeds from this offering to acquire additional bitcoin and for general corporate purposes” in its Nov. 18 statement.
The business intelligence firm’s 0% senior convertible note means it will not pay regular interest to bondholders.
