<p>Software company MicroStrategy has today completed its $500 million offering of secured notes, according to a <a href="https://www.microstrategy.com/content/dam/website-assets/collateral/financial-documents/press-release-archive/microstrategy-completes-500m-offering-of-senior-secured-notes-due-2028-with-bitcoin-use-of-proceeds_06-14-2021.pdf">statement</a>. The company said it plans to use the proceeds, which it estimates at <span id="page40R_mcid3" class="markedContent"><span dir="ltr">$488</span><span dir="ltr"> million</span></span> — after discounts, comissions and expenses — to buy more bitcoin.</p> <p>The offering was of secured notes due 2028 that bear interest at an annual rate of 6.125%.</p> <p>The company already holds <span id="page40R_mcid2" class="markedContent"><span dir="ltr">92,079</span></span> bitcoin, which is under the purview of its newly formed subsidiary MacroStrategy. The price of bitcoin is currently $40,700, suggesting that MicroStrategy will be able to buy around 11,990 more bitcoin, taking it well above the 100,000 mark.</p> <p>MicroStrategy <a href="https://www.theblockcrypto.com/linked/107425/microstrategy-wants-to-raise-400-million-via-debt-and-buy-more-bitcoin-with-it">announced</a> this latest offering on June 7, initially planning to raise $400 million before it was upped to $500 million. According to reports, the company had <a href="https://www.theblockcrypto.com/linked/107632/microstrategy-sees-1-6-billion-in-interest-for-junk-bond-deal-report">more than $1.6 billion</a> worth of orders for the notes, "including interest from a large number of hedge funds."</p> <p>&nbsp;</p>