MicroStrategy’s Bitcoin Gambit: Redeeming $1.05B in Notes! 🚀💰

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MicroStrategy, the Bitcoin kingpin, is set to snatch back its $1.05 billion in 0% convertible senior notes due in 2027. And guess what? It’s happening in February 2025! 🎉

Yep, you heard it right. MicroStrategy will pay back the full value of these notes, unless investors decide to convert them into Class A common stock at a whopping $142.38 per share. Who wouldn’t want to be a part of that? 😂

But here’s the kicker: Just days before the redemption date, on January 21, 2025, MicroStrategy bought another 11,000 Bitcoin, bringing its total stash to a mind-boggling 461,000 BTC. It’s like they’re playing a game of Bitcoin poker and they’ve just gone all-in! 🎲💰

Since August 2020, MicroStrategy has been all about Bitcoin, ditching cash like it’s going out of style. CEO Michael Saylor thinks cash returns are on the decline and the dollar’s future looks as bright as a politician’s promise. 🤦‍♂️

So, why the big redemption? Well, MicroStrategy wants to manage its debt better, save on interest (which, in this case, is zero, but still), and not give away too many shares. It’s like they’re cleaning house and making sure they’re not giving away the farm! 🏠💥

And let’s not forget, they just issued a fifth convertible bond of the year, raising $3 billion with a conversion price 55% above its current share price. It’s like they’re saying, “Bring it on, market! We’ve got Bitcoin on our side!” 🤙💪

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2025-01-24 20:04