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MicroStrategy Acquires Additional 11,931 Bitcoin for $786 Million, Total Holdings Now 226,331 BTC

Jun 20, 2024, 12:21 PM

MicroStrategy has acquired an additional 11,931 Bitcoin for approximately $786 million, using proceeds from convertible notes and excess cash. This purchase was made at an average price of $65,883 per Bitcoin. As of June 20, 2024, MicroStrategy holds a total of 226,331 Bitcoin, acquired for approximately $8.33 billion at an average price of $36,798 per Bitcoin. The company recently completed an $800 million offering of convertible senior notes due 2032 at a 2.25% coupon rate and a 35% conversion premium, which was $300 million more than initially announced. The proceeds from this offering were used to fund the Bitcoin purchase. MicroStrategy's holdings are now worth just under $15 billion.