MicroStrategy Completes Raise of $3 Billion to Purchase Additional Bitcoin

MicroStrategy (MSTR) has completed the issuance of $3 billion (approximately 463 billion yen) of 0% convertible senior notes due in December 2029.
On the 21st (local time), it was reported that the issuance of convertible preferred bonds had been completed while MicroStrategy's stock price had fallen by more than 25%. According to Google Finance, MSTR's stock price fell by 1.5% in a day.
During this time, the price of the cryptocurrency plummeted from a high of $536.7 (approx. JPY 82,800) to $397.28 (approx. JPY 61,300). The purpose of this fundraising is to purchase additional Bitcoin, and
The convertible senior notes carry a premium of approximately 55% and have an exercise price (the amount the option holder can exercise to purchase shares) of approximately $672 (approximately 100,000 yen).
The bonds are issued with a 0% interest rate, do not pay periodic interest to bondholders, and will be redeemed at face value if not converted at maturity.
Such bonds have priority over common stock in the event of bankruptcy or liquidation. If MicroStrategy were to use the entire $3 billion to buy Bitcoin, it would buy about 30,600 BTC.
The $3 billion raised is part of a $1.75 billion 0% interest-bearing bond issuance plan announced by the company on November 18.
The plan was revised upward to $2.6 billion on November 20. The company plans to raise $42 billion over the next three years through its "21/21" plan.
The plan includes $21 billion in stocks and $21 billion in fixed-yield bonds, a strategy to significantly increase its Bitcoin holdings.
Currently, MicroStrategy holds a total of 331,200 BTC, which is equivalent to approximately $32.7 billion.
This is the largest amount of Bitcoin held by any listed company.