Bitcoin Hits a New ATH Above $94.5K – MicroStrategy to Sell Almost $2.6B Notes to Buy More BTC

Key Points

• MicroStrategy plans to raise $2.6 billion, up from the previous target of $1.75 billion to buy more Bitcoin.
• BTC just reached a new ATH above $94,500.

MicroStrategy announced plans to raise around $2.6 billion to buy more Bitcoin. Meanwhile, BTC just reached a new ATH above $94,500, a few minutes ago.

MicroStrategy Announced Pricing of Convertible Senior Notes Offering

In a new post via X, Michael Saylor revealed that MicroStrategy announced the pricing of convertible senior notes offering.

In an official report, the company revealed the pricing of its offering of almost $2.6 billion aggregate principal amount of its 0% senior notes due 2029.

The firm plans to use the net proceeds from the offering to acquire more Bitcoin and for general corporate purposes.

It’s also important to note that the offering was upsized from the previously announced offering of $1.75 billion aggregate principal amount of notes. The offering is expected to close on November 21, 2024.

Also, the company just secured the 97th spot among the top 100 largest US publicly traded companies, with a market cap of over $96.7 billion.

Meanwhile, Bitcoin’s price rallied and hit a new ATH above $94,500.

Bitcoin Hits a New ATH

At the moment of writing this article, BTC is trading above $94,400, up by 3% in the last 24 hours. Earlier, the coin reached a price above $94,500 – its new ATH.

Bitcoin’s market cap surpassed $1.87 trillion, being positioned in the 7th spot on the list of Top Assets by Market Cap in the world.

Together with strong optimism in the crypto industry, stemming from upcoming changes in Washington in 2025, and friendlier crypto policies, BTC’s recent rally post the US elections was also supported by significant flows in BTC ETFs, and the launch of BTC ETF options in the US.

These crypto products are mirroring increased institutional interest in Bitcoin and related products, which, together with multiple other factors, metrics, and the prospect of Strategic Bitcoin Reserves in the US and other countries are setting the stage for the king coin to reach $100,000 soon.