MicroStrategy, a leading business intelligence and software company, continued its strong commitment to Bitcoin by purchasing an additional 11,931 BTC for a total value of $786 million.
BREAKING: MicroStrategy buys 11,931 more #Bitcoin for $786 million. pic.twitter.com/H7XN5XtBtK
– Bitcoin Magazine (@BitcoinMagazine) June 20, 2024
On June 18, MicroStrategy completed a private offering of convertible senior notes, including a 2.25% coupon and a conversion premium of approximately 35% over the aggregate US volume weighted value of MicroStrategy’s class A common stock. The offering was well received by the markets and raised to $800.0 million in principal amount, MicroStrategy said. This amount included the initial purchasers’ exercise of their option to purchase $100.0 million of additional notes, resulting in proceeds from the MicroStrategy offering of approximately $786.0 million.
“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, using proceeds from the Offering and Excess Cash ( described in our quarterly Form 10-Q report for the three months ended March 31, 2024), at a price of approximately $65,883 per bitcoin, including fees and expenses,” the company said.
The company first entered the Bitcoin market in August 2020, making the first BTC investment of $250 million. Since then, they have steadily added to their Bitcoin Holdings, creating a wealth holding strategy that has amassed over 226,331 bitcoins worth over $14.9 billion at the time of writing.
“As of June 20, 2024, MicroStrategy, together with its subsidiaries, held a total of approximately 226,331 bitcoins, acquired at a purchase price of approximately $8.33 billion and a purchase price of approximately $36,798 per bitcoin, including fees and expenses. costs,” concludes MicroStrategy.
