MicroStrategy, a number one enterprise intelligence and software program firm, has continued its steadfast dedication to Bitcoin by purchasing an extra 11,931 BTC at a complete price of $786 million.
BREAKING: MicroStrategy buys an extra 11,931 #Bitcoin for $786 million. pic.twitter.com/H7XN5XtBtK
— Bitcoin Journal (@BitcoinMagazine) June 20, 2024
On June 18, MicroStrategy accomplished a non-public providing of convertible senior notes, which included a 2.25% coupon and an roughly 35% conversion premium over the U.S. composite quantity weighted common value of MicroStrategy’s class A standard inventory. The providing was nicely acquired within the market and upsized to a complete of $800.0 million in mixture principal quantity, MicroStrategy said. This quantity included the train by the preliminary purchasers of their choice to buy $100.0 million of further notes, leading to web proceeds from the providing to MicroStrategy to be roughly $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 in cash, using proceeds from the Offering and Excess Cash (defined in our quarterly report on Form 10-Q for the three months ended March 31, 2024), at an average price of approximately $65,883 per bitcoin, inclusive of fees and expenses,” the corporate said.
The corporate initially entered the Bitcoin market in August 2020, making an preliminary BTC funding of $250 million. Since then, they’ve persistently added to their Bitcoin holdings, making a treasury reserve technique that has garnered over 226,331 bitcoin value greater than $14.9 billion on the time of writing.
“As of June 20, 2024, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 226,331 bitcoins, which were acquired at an aggregate purchase price of approximately $8.33 billion and an average purchase price of approximately $36,798 per bitcoin, inclusive of fees and expenses,” MicroStrategy concluded.
