MicroStrategy, the business intelligence firm and corporate bitcoin holder, is seeking to raise $500 million via a convertible senior note offering, with an option for an additional $75 million.

Subject to market conditions and other factors, the notes, due 2032, will be issued in a private offering to qualified institutional investors, the company said in a statement on Thursday. They are unsecured, bear interest semi-annually and are convertible into cash, MicroStrategy class A common stock, or both.

MicroStrategy intends to use the funds raised from this offering “to acquire additional bitcoin and for general corporate purposes.”

The convertible notes provide flexibility for MicroStrategy to manage its debt while potentially benefiting from equity appreciation. MicroStrategy has …