On Nov. 18, MicroStrategy unveiled plans to raise $1.75 billion through zero-coupon senior convertible notes to support additional Bitcoin acquisitions and other business initiatives.

These notes will not accrue interest, target institutional investors, and mature in 2029. They can be converted into cash, company stock, or a mix of both. The company also plans to allow initial investors to purchase an extra $250 million in notes within three days of issuance.

This move could allow MicroStrategy to add more than 19,000 BTC to its holdings if the top asset price remains around its current price of $91,629. This potential acquisition would push MicroStrategy’s Bitcoin ownership closer to 2% of the asset’s fixed supply of 21 million coins.

Currently, the company owns 331,200 BTC, representing 1.58% of Bitcoin’s total supply. These assets were purchased at a total cost of $16.5 billion, averaging $49,875 per coin. At BTC’s current price, they are cumulatively worth more than $30 billion.

This year, MicroStrategy has aggressively expanded its Bitcoin reserves. Its most recent acquisition, made the previous week, added 51,780 BTC for $4.6 billion, bringing the year’s total to 142,050 BTC.