MicroStrategy, the largest corporate holder of Bitcoin, has announced an increase in its upcoming note sale to $2.6 billion, signalling bullish expectations for Bitcoin’s price trajectory. The move, revealed in a November 20 statement, upsized the previously planned $1.75 billion offering of senior convertible notes to $2.6 billion.
The zero-interest notes are targeted at “qualified institutional buyers” and are expected to close by November 21, pending customary closing conditions. The firm estimates proceeds of approximately $2.58 billion, with the potential to reach $2.97 billion if buyers exercise their option to purchase additional notes.
MicroStrategy intends to use the funds primarily to acquire additional Bitcoin and for general corporate purposes.
Bitcoin’s Path to $100K
This strategic capital raise comes amid Bitcoin’s strong market performance. Trading at over $93,970 as of 1:30 PM UTC, the cryptocurrency has surged by more than 37% over the past month. Analysts are now eyeing the $100,000 milestone, which Bitcoin could surpass if the momentum continues.
Ryan Lee, chief analyst at Bitget Research, shared his optimism:
“If history repeats itself and Bitcoin prices grow as projected, a 14.7% rise from the current level will push the coin well above the $100,000 target for the month. The post-halving cycle trend is also very positive when projecting Bitcoin’s future.”
ETF Inflows Add to Market Optimism
In addition to MicroStrategy’s note sale, robust inflows into Bitcoin exchange-traded funds (ETFs) are supporting the ongoing rally. Data from Farside Investors shows that U.S. spot Bitcoin ETFs recorded over $816 million in cumulative net inflows on November 19 alone.
This marks the sixth consecutive week of positive inflows for U.S. Bitcoin ETFs, which collectively amassed over $1.67 billion during the trading week of November 11–15. Such trends suggest growing institutional confidence in Bitcoin’s long-term potential, further reinforcing the bullish sentiment.
MicroStrategy’s Strategic Bet on Bitcoin
Known for its aggressive Bitcoin acquisition strategy, MicroStrategy’s decision to upsize its note sale underscores the company’s unwavering belief in the cryptocurrency’s future. With over 152,333 BTC already in its reserves, the firm’s latest move could serve as a significant catalyst for Bitcoin’s price rally as it inches closer to the highly anticipated $100,000 milestone.
