Self-proclaimed Bitcoin development company MicroStrategy announces the issuance of 0% convertible senior notes, with a premium of up to 55%. As Bitcoin continues to rise, MicroStrategy (MSTR) has become the stock with the highest trading volume in the U.S. today, with its stock price up 591% year-to-date, outperforming Bitcoin.
MicroStrategy announces the issuance of $2.6 billion in zero-interest convertible bonds
MicroStrategy announced the issuance of $2.6 billion in convertible senior notes due in 2029, to be privately placed with qualified institutional buyers, under the following terms:
Maturity date: December 1, 2029
Coupon rate: 0%
Conversion price: $672.4 (approximately 55% premium)
MicroStrategy's trading volume surpasses Nvidia and Tesla
According to a post by Bloomberg ETF analyst Eric Balchunas, MicroStrategy (MSTR) has become the stock with the highest trading volume in the U.S. today, surpassing Tesla (TSLA) and Nvidia (NVDA). Balchunas stated that it has been many years since a stock's trading volume exceeded either of these two stocks, with the last instance potentially being GameStop (GME).
Additionally, the 2x leveraged long MicroStrategy ETF MSTU is the fifth highest trading volume ETF, and MSTX is the eighth highest trading volume ETF, which is unprecedented, showing the incredible popularity of MicroStrategy!
MicroStrategy has risen 591% this year, vastly outperforming Bitcoin
Recently, MicroStrategy announced the '21/21 Plan', aiming to raise $42 billion in capital over the next three years, including $21 billion in equity and $21 billion in fixed-income securities. This plan will further support its acquisition of Bitcoin as part of its treasury reserve strategy.
As Bitcoin continues to rise, MicroStrategy doesn't even have to pay interest anymore! The conversion premium of the convertible bonds is also increasing.
MicroStrategy's stock price has increased 591% year-to-date, vastly outperforming Bitcoin's 109%.
