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MicroStrategy’s perpetual convertible oversubscribed by nearly 3X after Saylor’s Forbes magazine cover

MicroStrategy has experienced overwhelming demand for its latest perpetual convertible preferred stock offering, with subscriptions rising from 2.5 million shares to 7.3 million shares. Priced at $80 each, the offering could now raise $584 million. The company's stock has seen significant growth in the past year, driven by its strategic bet on Bitcoin. MicroStrategy currently holds 471,107 BTC, making it the second-largest holder after Bitcoin's creator, Satoshi Nakamoto. The offering, known as STRK, is expected to be listed on the Nasdaq stock exchange.

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