TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

MicroStrategy increases convertible notes offering to $700 million in plan to acquire additional Bitcoin

  • MicroStrategy has added an additional $200 million to its initial convertible notes offering as it looks to acquire more Bitcoin.
  • Bitcoin fell below $66K on Thursday, raising investor fears.
  • Bitcoin miners may be among top sellers.
MicroStrategy increases convertible notes offering to $700 million in plan to acquire additional Bitcoin
Michael EbiekutanMichael EbiekutanFXStreet

MicroStrategy, led by CEO Michael Saylor, announced an increase in its initial convertible notes offering from $500 million to $700 million in a press release on Friday. Meanwhile, Bitcoin dropped below $66K, with on-chain data suggesting miners are the major sellers.

Largest Bitcoin holder increases convertible notes offering to acquire more BTC

In a press release on Friday, business intelligence firm MicroStrategy announced additional plans to raise the sale size of its convertible senior notes to $700 million.

Also read: Bitcoin Weekly Forecast: Has BTC found a local price bottom?

The firm had initially released an announcement on Thursday, revealing its plans to offer $500 million in aggregate principal amount of convertible senior notes due 2032 in a private offering to institutional buyers.

The offer is intended to be open until June 17, with an option for early buyers to purchase an additional $100 million of notes within the first 13 days of its issuance.

Being the largest single Bitcoin holder with 214,400 BTC, MicroStrategy may be looking to acquire extra Bitcoin with the convertible notes sale, promising an annual yield of 2.25%.

Read more: Why Bitcoin remains sideways despite record BTC ETF inflows

Furthermore, Bitcoin's price fell in the early hours of Friday, dropping to around $65K from a previous price of $70K earlier in the week. This has sparked concerns among investors, with several analysts speculating that prices may drop to $60K.

On-chain data suggests that miners may be playing a major role in Bitcoin's recent descent as mining pools have seen increased BTC transfers.

Founder and CEO of CryptoQuant, Ki Young Ju, believes that a break-up from Bitcoin's hashrate 18-month upward trend may indicate that certain Bitcoin mining companies are liquidating their holdings. 

Also read: Bitcoin long positions signal retail traders attempt to buy the dip

"Bitcoin's hashrate 18-month upward trend has broken, suggesting some miners are capitulating," said Young Ju.

BTC Network True Hashrate

BTC Network True Hashrate

Author

Michael Ebiekutan

With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addition to

More from Michael Ebiekutan
Share:

Editor's Picks

Cardano Price Forecast: Rally pauses as mixed metrics flag caution

Cardano Price Forecast: Rally pauses as mixed metrics flag caution

Cardano shows signs of consolidation, trading below $0.260 after an 11% gain the previous week. Mixed derivatives and on-chain metrics point to caution among traders. Meanwhile, the technical outlook suggests bullish sentiment remains, but ADA’s near-term direction remains uncertain. Derivatives data shows a mixed and cautious outlook among Cardano traders.

Meme Coins Price Prediction: Dogecoin, Shiba Inu, and Pepe – Bullish trend in works

Meme Coins Price Prediction: Dogecoin, Shiba Inu, and Pepe – Bullish trend in works

Meme coins including Dogecoin, Shiba Inu, and Pepe make a soft start on Monday as key resistance levels capped gains last week. The technical outlook for DOGE, SHIB, and PEPE indicates a mixed bias, as prices remain above their 200-day EMA while momentum wanes.

Top 3 Price Prediction: BTC takes a breather, ETH faces pullback, XRP consolidates 

Top 3 Price Prediction: BTC takes a breather, ETH faces pullback, XRP consolidates 

Bitcoin, Ethereum, and Ripple take a breather at the start of the week after their recent gains last week. BTC pulls back, trading below $83,600 while ETH extends its losses, trading below $2,700, and XRP consolidates around $1.500. The price action of these top three cryptocurrencies suggests a mild pullback or consolidation as traders assess their next direction.

NEAR reclaims $5 as Bitwise ETF clears key regulatory hurdle

NEAR reclaims $5 as Bitwise ETF clears key regulatory hurdle

NEAR Protocol’s native token climbed above $5 extending a sharp multi-week rally as progress on a proposed Bitwise exchange-traded fund coincided with growing activity across the network’s ecosystem. The US Securities and Exchange Commission declared Bitwise’s registration statement for the NEAR ETF effective, clearing a key regulatory step for the proposed product.

Bitcoin: BTC consolidates gains as ETF inflows hit highest level since October 2025

Bitcoin: BTC consolidates gains as ETF inflows hit highest level since October 2025

Bitcoin (BTC) price holds above $84,000 at the time of writing on Friday as it consolidates gains of over 4% so far this week. Institutional demand supports the bullish outlook, with spot Exchange Traded Funds (ETFs) recording a net inflow of $2.25 billion through Thursday, pointing to the highest weekly inflow since October 2025.