- MicroStrategy has spent almost $786 million, or $65,883 per bitcoin, to acquire an additional 11,931 bitcoins.
- With this acquisition, MicroStrategy now has 226,331 BTC in total holdings, having completed a $800 million convertible note issue.
According to a report on Thursday, business intelligence company and corporate bitcoin holder MicroStrategy purchased an extra 11,931 BTC -0.79% for roughly $786 million, or an average price of $65,883 per bitcoin between April 27 and June 19.
Now, the corporation has 226,331 Bitcoin, which is valued at about $14.9 billion. According to Michael Saylor, the founder and executive chairman of MicroStrategy, the company’s holdings were acquired for around $8.33 billion, inclusive of fees and expenses, at an average price of $36,798 per bitcoin.
With the acquisition of 9,245 BTC for $623 million in March and two subsequent smaller purchases, MicroStrategy’s holdings of bitcoin surpassed 1% of the 21 million total supply for the first time.
According to TradingView, MicroStrategy’s share price increased by 2.4% to $1,505 in pre-market trading on Thursday morning. Although the stock has lost 2% this month, it has increased 112% so far this year.
According to data from Yahoo Finance, as of Tuesday’s close, its enterprise value was $29.6 billion, and its market capitalization was $26.06 billion.
MicroStrategy has concluded the issuance of $800 million convertible notes
According to the filing, the company’s most recent acquisition comes after it successfully completed a private offering of convertible senior notes with a 2.25% coupon and a conversion premium of around 35% over the U.S. composite volume weighted average price of MicroStrategy’s class A common stock.
Following a favorable response from the market, MicroStrategy increased its initial June 13 offer from $500 million to $800 million, according to the company. The $786 million in net revenues from the transaction was utilized to finance the bitcoin acquisitions in addition to surplus funds.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
