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<p class="is-style-lead">MicroStrategy has upsized its recently announced convertible senior note offering, from $1.75 billion to $2.6 billion.</p> 
<p>The company, currently the largest corporate holder of Bitcoin (<a rel="" href="https://crypto.news/price/bitcoin/">BTC</a>) following a buying spree that started in 2020, said in an <a href="https://www.microstrategy.com/press/microstrategy-announces-pricing-of-convertible-senior-notes-11-20-2024" target="_blank" rel="nofollow">announcement</a> that the proceeds of the offering will go into the purchase of more BTC. MicroStrategy previously announced plans to <a rel="" href="https://crypto.news/microstrategy-raises-1-75-billion-to-acquire-bitcoin/">raise $1.75 billion</a>.</p> 
<p>MicroStrategy founder Michael Saylor, in a comment on the decision to upsize the note offering, <a href="https://x.com/saylor/status/1859234037186904238" target="_blank" rel="nofollow">noted</a> demand was high.</p> 
<p>The MSTR offering is of 0% convertible bonds that are due 2029 and includes a $400 million greenshoe option, which means MicroStrategy has granted initial buyers the option of purchasing an additional $400 million of the notes’ principal amount. This extends to three days from the date on which the company first issued the notes.</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>“The notes will be convertible into cash, shares of MicroStrategy’s class A common stock, or a combination of cash and shares of MicroStrategy’s class A common stock, at MicroStrategy’s election,” the company wrote.</p> 
</blockquote> 
<p> You might also like: <a rel="" href="https://crypto.news/microstrategys-bitcoin-exceeds-nike-and-ibm-cash/"> MicroStrategy’s $26 billion in Bitcoin exceeds Nike and IBM cash </a> </p> 
<h2 class="wp-block-heading" id="mstr-stock-out-trading-tesla-nvidia">MSTR stock out-trading Tesla, Nvidia</h2> 
<p>As MicroStrategy sets the Bitcoin agenda, its stock has gained massively. Market data shows MSTR is up 620% year-to-date and 871% in the past year. Over the past five years, MSTR has outperformed by a staggering 3,159%.</p> 
<p>Amid this surge, the MicroStrategy stock has become the “most traded stock in America today”. </p> 
<p>Eric Balchunas, senior ETF analyst at Bloomberg, pointed out this fact in a post on X on Nov. 20. In a year where Tesla and Nvidia stocks have also outperformed, it’s MicroStrategy’s stock that’s seeing the most volume.</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>“It’s been years since a stock has traded more than one of those two (it may have actually been $GME to last do it). It’s also about double $SPY! Wild times,” the analyst noted.</p> 
</blockquote> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Wow <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$MSTR</a> is the most traded stock in America today.. to best <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$TSLA</a> and <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$NVDA</a> is crazy. It's been years since a stock has traded more than one of those two (it may have actually been <a href="https://twitter.com/search?q=%24GME&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$GME</a> to last do it). It's also about double <a href="https://twitter.com/search?q=%24SPY&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$SPY</a>! Wild times.. <a rel="nofollow" href="https://t.co/bUr8nycMX3" target="_blank">pic.twitter.com/bUr8nycMX3</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1859278500399620528?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">November 20, 2024</a>
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  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<p>Since its first Bitcoin purchase, MicroStrategy has acquired a total of 331,200 BTC, spending approximately $16.5 billion to scoop the BTC at the average price of $49,874 per bitcoin. The latest purchase was for 51,780 BTC worth $4.6 billion, with this bought at the average price of $88,627.</p> 
<p>Bitcoin price has risen significantly since the company adopted the strategy, with this inspiring several others to add BTC as a treasury reserve asset. The digital asset traded around $93,915 at the time of writing – having hit a new all-time high of $94,891.</p> 
<p> Read more: <a rel="" href="https://crypto.news/btc-and-microstrategy-pushed-mstr-into-top-100-club/"> Bitcoin and MicroStrategy: The feedback loop that pushed MSTR into the top 100 club </a> </p>

MicroStrategy upsizes convertible note offering to $2.6b to buy more Bitcoin

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