MicroStrategy has acquired an additional 11,931 bitcoins for approximately $786 million, raising its total holdings to about 226,331 bitcoin.
MicroStrategy has acquired an additional 11,931 bitcoin for approximately $786 million in cash. The purchase was made using proceeds from a private offering of convertible senior notes and excess cash, as reported by Bitcoin Magazine.
The company's private offering, completed on June 18, 2024, was met with positive reception in the financial market, leading to an upsized total of $800 million in aggregate principal amount. This included an option exercised by initial purchasers to acquire an additional $100 million of notes, with MicroStrategy netting approximately $786 million from the offering.
According to a statement from MicroStrategy, "On June 20, 2024, MicroStrategy announced that, during the period between April 27, 2024, and June 19, 2024, MicroStrategy acquired approximately 11,931 bitcoins for approximately $786.0 million in cash, at an average price of approximately $65,883 per bitcoin, inclusive of fees and expenses.”
MicroStrategy's foray into Bitcoin began in August 2020 with an initial investment of $250 million. Since then, the firm has consistently expanded its Bitcoin holdings. As of June 20, 2024, MicroStrategy and its subsidiaries possess an impressive total of approximately 226,331 bitcoin, acquired at an aggregate purchase price of around $8.33 billion and an average price of approximately $36,798 per bitcoin, inclusive of fees and expenses.
This aggressive investment strategy places MicroStrategy among the most prominent corporate holders of Bitcoin, with holdings valued at over $14.9 billion at the time of the report.
