MicroStrategy has shown its unwavering commitment to Bitcoin. purchasing Additional 11,931 BTC, at a cost totaling $786 million.
MicroStrategy acquires additional 11,931 #Bitcoin For $786 Million. pic.twitter.com/H7XN5XtBtK
— Bitcoin Magazine (@BitcoinMagazine) June 20, 2024
MicroStrategy closed a private convertible senior note offering on June 18th. The notes included a coupon of 2.25% and a conversion premium of approximately 35% over the U.S. Composite Volume Weighted Average Price of MicroStrategy’s Class A Common Stock. MicroStrategy reported that this offering, which was received well by the market, grew to an aggregate principal of $800.0 millions. MicroStrategy stated that this amount includes the exercise of the option by initial buyers to purchase an additional $100.0 million in notes. MicroStrategy’s net proceeds were approximately $786.0 millions.
“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 company said.
In August 2020 the company entered the Bitcoin Market, investing $250 Million in BTC. Since then, they have consistently added to their Bitcoin holdings, creating a treasury reserve strategy that has garnered over 226,331 bitcoin worth more than $14.9 billion at 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 completed
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Source: bitcoinmagazine.com
