Crypto

MicroStrategy Raises $2.1 Billion in Convertible Notes to Fuel Bitcoin Accumulation

Guavy AI Editorial Team Published September 26, 2026

Instruments

BTC

MicroStrategy, a company that has shifted its focus from software to leveraging Bitcoin as a financial vehicle, has raised $2.1 billion through convertible notes with specific terms that allow it to use cheap capital to purchase more BTC.

The company's treasury now holds over 538,000 BTC, accounting for approximately 4% of the total Bitcoin supply, and management aims to increase the 'Bitcoin yield' per share by using debt to maximize value for common shareholders.

The $2.1 billion note has a 0% interest rate and provides bondholders with the option to convert into Class A common stock if the price reaches a specific threshold, allowing MicroStrategy to avoid large cash repayments during bull markets but facing massive liquidity requirements if Bitcoin prices drop.

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