Summary
MicroStrategy has purchased around 9,245 bitcoins for $623 million in cash, bringing their total holdings to approximately 214,246 bitcoins. The company continues to aggressively execute its bitcoin strategy despite market volatility, aiming to hold bitcoin as its primary corporate treasury asset. CEO Michael Saylor remains confident in bitcoin’s long-term trajectory, with the latest purchase funded by a recent convertible senior notes offering.
Key Points
1. MicroStrategy purchased approximately 9,245 bitcoins for around $623 million in cash, using proceeds from a recent convertible senior notes offering and excess company cash. The average purchase price was approximately $67,382 per bitcoin.
2. This latest acquisition comes after MicroStrategy raised $603.75 million through a private offering of convertible senior notes due in 2031, upsizing the planned offering from $500 million due to strong demand.
3. With the new purchase, MicroStrategy now holds approximately 214,246 bitcoins acquired at an average price of $35,160 per bitcoin, spending $7.53 billion to accumulate its Bitcoin treasury reserves. The company aims to hold Bitcoin as its primary corporate treasury asset, owning more than 1% of Bitcoin’s total supply.