(Bloomberg) -- Michael Saylor’s Strategy raised $2 billion from an issue of convertible debt after the Bitcoin treasury firm sweetened the terms for investors. It plans to use the proceeds for purposes including acquiring more of the digital token.

The company, which until recently was called MicroStrategy Inc., priced the zero-coupon convertible senior notes due in 2030 with a 35% conversion premium, according to a statement on Thursday. The premium is in reference to the volume-weighted average price of $321.05 each at which it traded over a stretch of Wednesday afternoon. It came in below the 40% to 50% range the company had marketed earlier, Bloomberg News has reported.

Strategy’s stock rose 1.7% to $323.96 apiece in pre-market trading on Thursday. The shares fell 4.6% on Wednesday, the most in nearly a month. The stock has shed roughly 30% of its value from a November record, though it remains up more than 700% over the past three years.

Strategy held 478,740 Bitcoin as of Feb. 17, or more than 2.5% of all the tokens that will ever exist, worth more than $46 billion.

The volatility of Strategy shares has dropped in recent months. By one measure, the stock’s 30-day volatility is now at less than half of its December peak, according to Bloomberg calculations. That could affect demand from some hedge funds that buy Strategy shares to set up trades incorporating purchasing the bonds and selling the shares short, essentially betting on the underlying stock’s volatility.

The offering of the convertible issue follows its move to raise more than $560 million in preferred stock at a steep discount last month. The company aims to raise $42 billion of capital through 2027 to fund Bitcoin purchases using at-the-market stock sales and fixed-income securities.

The notes include a three-year put option, which gives holders the option to redeem the bond before it matures.