MicroStrategy has increased its offering of zero-interest convertible notes from $1.75 billion to $2.6 billion due to high demand. Co-founder Michael Saylor announced this expansion on November 20, 2024, after just two days of initial offerings. The new notes are set to mature in 2029 and are available exclusively to qualified institutional buyers. These bonds will have a 55% conversion premium and will eventually be redeemable for cash, stock, or a combination of both. With this funding, MicroStrategy aims to purchase approximately 27,450 additional Bitcoin, as it currently holds over 331,000 BTC, constituting about 1.58% of the total supply. This move highlights the company's transformation from a software firm to a significant player in the Bitcoin market, reflecting a surge in its stock value of over 870% over the past year alongside Bitcoin's rise.

Source 🔗