The company’s stock was up over 20% in intraday trading after bitcoin hit a new all-time high Tuesday. by Katherine Ross /. March 6, 2024 01:47 pm. MicroStrategy and Adobe Stock modified by Blockworks. MicroStrategy is upsizing its convertible debt offering to $700 million from $600 million.. The company announced the offering on Monday, adding that it planned to use “net proceeds from the sale of the notes to acquire additional bitcoin and for general corporate purposes.”. The Wednesday upsizing also included the pricing of the notes, and plans to close the offering on March 8.. MicroStrategy “also granted to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $100 million aggregate principal amount of the notes,” the press release said.. The notes are issued at an interest rate of 0.625% “per annum, payable semi-annually in arrears on March 15 and September 15 of each year, beginning on September 15, 2024” with a maturity date in March 2030.. Read more: After BTC hits all-time high, bitcoin ETF volumes also peak. However, the company may redeem the notes depending on certain scenarios March 22, 2027.. MicroStrategy expects the proceeds to total $684 million or $782 million, depending on if the purchases exercise their option to buy more notes.. In addition to buying more bitcoin (BTC), the Wednesday release also revealed that the funds would be used for “general corporate purposes.”. The company’s stock was soaring in intraday trading, up over 20% at time of publication. Shares traded hands at $1,260. The stock is up over 444% in the past year.. MicroStrategy’s upsizing comes a day after bitcoin hit a new all-time high, surpassing a high set in November 2021.. The company holds 193,000 bitcoin currently, after buying more last month. Bitcoin’s trading around $67,000 at publishing time.. Don’t miss the next big story – join our free daily newsletter.. Tags. BTC. MicroStrategy. Newsletter. Blockworks Daily. Upcoming Events. Digital Asset Summit 2024. Hilton Metropole | 225 Edgware Rd, London. Mon – Wed, March 18 – 20, 2024. Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.. buy ticketslearn more. Day 0x. HYATT REGENCY SALT LAKE CITY. TUES, OCT. 8, 2024. Guided by the expertise of Blockworks Research Analysts team, this one day event will feature senior leaders, entrepreneurs, and developers from across the crypto industry. Attendees will have the opportunity to participate in an immersive experience to explore the latest trends, . . learn more. Permissionless III. Salt Lake City, UT. WED – FRI, OCTOBER 9 – 11, 2024. Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains . . learn more. recent research. Research. Wormhole is a suite of open-source, permissionless protocols used to move assets and queries across blockchains. Despite being a common misconception, Wormhole is not just a token bridge. Nevertheless, protocols can build token bridges on top of Wormhole by leveraging the cross-chain messaging provided.. by Boccaccio. more from news. Select a tab. Worldcoin must cease collecting and processing personal data in Spain, according to a press release Wednesday. by Katherine Ross /. March 6, 2024. Bitcoin has given crypto free rein to run wild, even if its run has stalled. by David Canellis /. March 6, 2024. Fidelity’s bold move to include a BTC ETF in their conservative portfolio marks a significant shift in how Wall street can approach digital assets. by Martin Leinweber /. March 6, 2024. A source close to Grayscale told Blockworks that the fund was seeded with Grayscale capital on Oct. 2, 2023. by Katherine Ross /. March 5, 2024. The 10-fund segment saw trade volumes amounting to roughly $9.5 billion on Tuesday — beating the record set on Feb. 28. by Ben Strack /. March 5, 2024. EigenLayer’s TVL has reached $11.24 billion, per DeFiLlama. by Bessie Liu /. March 5, 2024