MicroStrategy has significantly increased its Bitcoin holdings to 226,331 BTC after acquiring an additional 11,931 bitcoins for $786 million. This strategic financial move was made possible through a private offering of convertible senior notes, as reported by the United States Securities and Exchange Commission (SEC) Form 8-K filed by MicroStrategy Incorporated on June 18, 2024.
The offering, featuring a 2.25% coupon and a conversion premium of approximately 35% over the U.S. composite volume-weighted average price of MicroStrategy’s Class A common stock, was well received and upsized to a total of $800 million in aggregate principal amount, with net proceeds amounting to approximately $786 million.
Following this latest acquisition, MicroStrategy now holds a total of 226,331 BTC, amounting to $8.33 billion with an average buy-in of $36,798 per BTC as of June 20, 2024.
Blockchain researcher Collin Brown highlighted this significant BTC boost, noting that MicroStrategy’s latest purchase averaged $65,883 per bitcoin. This reinforces the company’s position as a major holder of Bitcoin and reflects its continued strategy of investing heavily in the cryptocurrency.
The implications of this move extend to a reinforced commitment to Bitcoin as a key asset in the company’s financial strategy and could potentially influence other corporations and investors to consider similar investments in digital assets.
As of today, Bitcoin (BTC) is priced at $64,909.29, with a slight recovery from the previous week’s decline. This latest development adds to the ongoing narrative of Bitcoin’s influence on the financial market.
