Key Points
- MicroStrategy continues its Bitcoin buying spree with a $786 million purchase.
- The company now holds 226,331 Bitcoins, worth approximately $15 billion.
MicroStrategy continues to grow its Bitcoin holdings, recently purchasing an additional 11,931 Bitcoins for $786 million in cash. This purchase was made with the proceeds from convertible notes, confirmed by the company’s founder, Michael Saylor.
Bitcoin Acquisition Details
The nearly 12,000 Bitcoins were acquired between April 27 and June 19, with an average price of about $65,883 per Bitcoin. This latest acquisition brings MicroStrategy’s total Bitcoin holdings to 226,331, valued at around $15 billion.
This purchase comes less than a week after the company announced an $800 million offering in convertible senior notes at a rate of 2.25% per annum. This was aimed at acquiring more Bitcoins. Despite this huge purchase, MicroStrategy is second only to BlackRock in Bitcoin holdings, which reportedly holds over 305,000 Bitcoins in its spot Bitcoin exchange-traded fund.
Impact on MicroStrategy’s Share Price
Following the announcement of this purchase, MicroStrategy’s share price increased by 2.3% in pre-market trading, reaching $1,503. At the time of writing, Bitcoin is trading at approximately $65,944, according to data from CoinMarketCap.
