MicroStrategy Acquires Additional 11,931 Bitcoin, Total Holdings Now Worth $14.9 Billion

Microstrategy CEO on Rumor of Company Selling Bitcoin

MicroStrategy adds 11,931 BTC to its holdings, now totaling 226,331 BTC worth approximately $14.9 billion. Learn about their latest acquisition and financial performance.

Bollywood Fever: Business intelligence firm and prominent corporate bitcoin holder MicroStrategy has announced the acquisition of an additional 11,931 BTC, spending approximately $786 million at an average price of $65,883 per bitcoin between April 27 and June 19. This acquisition was disclosed in a filing on Thursday.

With this latest purchase, MicroStrategy now holds 226,331 BTC, valued at roughly $14.9 billion. The company’s total bitcoin holdings were acquired at an average price of $36,798 per bitcoin, amounting to around $8.33 billion, inclusive of fees and expenses, according to the company’s founder and executive chairman, Michael Saylor.

This acquisition follows MicroStrategy’s purchase of 9,245 BTC for $623 million in March, and two smaller acquisitions, which brought the firm’s total holdings to over 1% of the total 21 million bitcoin supply for the first time.

MicroStrategy’s share price rose by 2.4% in pre-market trading Thursday morning to $1,505, according to TradingView. Despite being down 2% over the past month, the stock has gained an impressive 112% year-to-date. As of Tuesday’s close, the company’s market capitalization stood at $26.06 billion, with an enterprise value of $29.6 billion, according to Yahoo Finance data.

Bitcoin is currently trading at $66,009, reflecting a 1.4% increase over the past 24 hours, as per The Block’s bitcoin price page.

MicroStrategy Completes $800 Million Convertible Note Offering

The latest bitcoin acquisition was funded by the completion of a private offering of convertible senior notes, which included a 2.25% coupon and an approximately 35% conversion premium over the U.S. composite volume-weighted average price of MicroStrategy’s class A common stock, according to the filing.

Initially, MicroStrategy proposed a $500 million offering on June 13, which was subsequently upsized to $800 million due to a positive reception in the marketplace. The net proceeds from the offering totaled approximately $786 million and were used to finance the bitcoin acquisitions alongside excess cash.

MicroStrategy’s continued investment in bitcoin demonstrates the company’s confidence in the cryptocurrency’s long-term value proposition. As the firm bolsters its bitcoin holdings, it further cements its position as a leading corporate investor in the digital asset space.

Also Read related articles, Microstrategy Plans to Purchase Additional Bitcoin Using $600M from Convertible Note Offering

MicroStrategy Adds 850 Bitcoin Worth $37.2 Million in January

MicroStrategy Acquires $190.5 M. Well worth of Bitcoin now it holds a total amount of 129,218 bitcoins

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Nicholas Edwards

Nicholas Edwards is a passionate writer with a keen interest in sports and business news. With a knack for delivering insightful and engaging content, Nicholas keeps his finger on the pulse of the latest developments in these dynamic fields. His enthusiasm for both sports and business shines through in his writing, making complex topics accessible to a wide audience. Whether it's dissecting the latest game-changing play or analyzing market trends, Nicholas brings a fresh perspective and a wealth of knowledge to his articles. Email @ admin@bollywoodfever.co.in

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