# MicroStrategy Increases Convertible Note Sale

*Author: Kazu Umemoto*
*Published: Nov 20, 2024*
*Source: https://www.bankless.com/read/microstrategy-increases-convertible-notes-sale*

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The firm intends to use the proceeds to acquire additional bitcoin and for general corporate use.

## What’s the Scoop?
- **Big Move:** MicroStrategy is upping the size of its latest convertible note offering by nearly 50%, increasing borrowings from $1.75B to $2.6B.
- **Convertible Notes: **This set of convertible notes matures in 2029 and carries a 0% interest rate. MicroStrategy's recently [announced ](https://www.microstrategy.com/press/microstrategy-announces-third-quarter-2024-financial-results-and-announces-42-billion-capital-plan_10-30-2024)21/21 Plan sees the firm issuing a total $21B in convertible bonds and $21B in stock over the next three years to buy even more BTC.
- **Picking Up Traction: **MicroStrategy ranks as the most actively traded stock in the world today and had [generated](https://www.nasdaq.com/market-activity/stocks/mstr) 57M in share trading volumes as of the publication of this article, 30 minutes prior to the New York stock market close.

## Bankless Take:
MicroStrategy continues to double down on its winning Bitcoin strategy; share prices have surged 117% in the past month and are up 521% year-to-date. While the firm presents itself as a convicted long-term holder, the crypto market is notoriously volatile, and a significant downturn could send both bitcoin prices and MSTR stock into a tailspin. 

> Given high demand, we upsized our [$MSTR](https://twitter.com/search?q=%24MSTR&src=ctag&ref_src=twsrc%5Etfw) offering of 0% convertible bonds due 2029 from $1.75 billion to $2.6 billion, including a $400 million greenshoe option, and priced it at a 55% conversion premium.— Michael Saylor⚡️ (@saylor) [November 20, 2024](https://twitter.com/saylor/status/1859234037186904238?ref_src=twsrc%5Etfw)
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