MicroStrategy continues its aggressive Bitcoin acquisition strategy with a substantial $786 million purchase.

MicroStrategy Expands Bitcoin Portfolio

MicroStrategy has further expanded its Bitcoin holdings by acquiring an additional 11,931 BTC for $786 million in cash. This purchase was funded through proceeds from convertible notes, as confirmed by the company’s founder, Michael Saylor, on social media.

MicroStrategy has acquired an additional 11,931 BTC for ~$786.0M using proceeds from convertible notes & excess cash for ~$65,883 per #bitcoin. As of 6/20/24, $MSTR hodls 226,331 $BTC acquired for ~$8.33B at an average price of $36,798 per bitcoin.

Regulatory Filing and Current Holdings

In a regulatory filing, MicroStrategy confirmed the acquisition of nearly 12,000 BTC between April 27 and June 19, at an average price of approximately $65,883 per BTC. With this latest purchase, MicroStrategy and its subsidiaries now hold 226,331 BTC, valued at around $15 billion.

Recent Financing and Market Position

This purchase comes shortly after MicroStrategy announced an $800 million offering in convertible senior notes, intended for further Bitcoin acquisitions. Despite this significant acquisition, MicroStrategy remains second to another major player, which currently holds over 305,000 BTC in its spot Bitcoin exchange-traded fund.

Market Impact and Share Price

Following the announcement, MicroStrategy’s share price (MSTR) rose by 2.3% in pre-market trading, reaching $1,503. As of the latest data, Bitcoin is trading at approximately $65,944.

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