Microstrategy Has Acquired an Additional 11,931 Bitcoin for ~$786.0M
MicroStrategy’s Strategy: Convertible Notes for Bitcoin?
MicroStrategy, one of the world's largest public holders of Bitcoin (BTC), has successfully completed an $800 million convertible note offering. The funds raised will be used to acquire more Bitcoin and for general corporate purposes.
Source : MicroStrategy
Details of the Convertible Note Offering
On June 20, MicroStrategy announced the completion of its previously declared offering of 2.25% convertible senior notes due in 2032. The total principal amount of the notes sold was $800 million, which includes an additional $100 million of notes issued through an option to purchase. This option was fully exercised by the initial purchasers on June 17, with another purchase following on June 18.
Financial Summary
After deducting the initial purchasers’ discounts, commissions, and estimated offering expenses, the net proceeds from the sale of the notes amounted to approximately $786 million. These funds will be used to acquire additional Bitcoin and for other corporate needs.
New Bitcoin Acquisition
In a separate announcement, MicroStrategy revealed that it has acquired an additional 11,931 Bitcoins using proceeds from the convertible notes and excess cash. The Bitcoins were purchased at an average price of $65,883 per BTC, totaling $786 million.
Current Bitcoin Holdings
As of June 20, MicroStrategy holds a total of 226,331 Bitcoins. The company has invested roughly $8.33 billion in Bitcoin at an average price of $36,798 per BTC.
MicroStrategy continues to strengthen its position as a major Bitcoin holder, leveraging convertible notes to fund its acquisitions. This strategic move underscores the company’s commitment to integrating Bitcoin into its financial strategy while ensuring flexibility for general corporate purposes.
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