MicroStrategy Inc. said Wednesday that the convertible debt offering announced the previous session, in which the proceeds will be used to buy bitcoin has been increased by 50% to $900 million. The 0% convertible senior notes will mature Feb. 15, 2027. The business software company and bitcoin buyer said the notes will be convertible into cash, shares of MicroStrategy common stock or a combination of both. The initial conversion rate for the notes will be 0.6981 shares of common stock per $1,000 principal amount of notes, which is equivalent to a conversion price of $1,432.46 a share, which is 50% above Tuesday’s closing price of $955.00. On Tuesday, the company announced plans to offer $600 million in convertible notes, which comes after an offering of $650 million in convertible debt to buy bitcoin in the fourth quarter. Microstrategy’s stock, which rose 1.0 in premarket trading, has rocketed 356.7% over the past three months, while the S&P 500 has gained 9.0%.