MicroStrategy Announces Pricing of 0% Convertible Senior Notes Offering and Bitcoin Acquisition Strategy

MicroStrategy shares surged by 10.9% after the company announced the pricing of a 0% convertible senior notes offering. The offering was increased in size to $2.6 billion, indicating strong investor demand. This will provide the company with more cash to purchase bitcoins as part of its aggressive Bitcoin acquisition strategy. MicroStrategy recently bought $4.6 billion worth of bitcoin, bringing its total holding to 331,200 bitcoins valued at nearly $31 billion. The company's stock has skyrocketed more than sixfold this year. The convertible bonds mature in December 2029 and pay no interest.