Wu said that MicroStrategy (Nasdaq: MSTR) announced plans to issue $1.75 billion of 0% convertible senior notes due 2029 through a private placement, and provide initial purchasers with an additional $250 million purchase option. The notes are unsecured senior debt, with no periodic interest payments, maturing on December 1, 2029, and MicroStrategy may redeem them in whole or in part after 2026. The notes can be converted into cash, MicroStrategy Class A common stock, or a combination of both. The company plans to use the net proceeds from this offering to purchase Bitcoin and for general corporate purposes.