Public financial statements of MicroStrategy or reputable financial news sources

MicroStrategy Completes $1.01 Billion Note Offering, Holds 252,220 BTC with $6.1 Billion Profit

Sep 20, 2024, 01:13 PM

MicroStrategy has completed a $1.01 billion upsized offering of convertible notes with a 0.625% coupon rate and a 40% conversion premium. The funds raised will be used to purchase more Bitcoin. The company now holds 252,220 Bitcoin, acquired for approximately $9.9 billion at an average cost of $39,266 per Bitcoin. This recent acquisition includes 7,420 Bitcoin purchased for $458.2 million between September 13-19. As a result, MicroStrategy's Bitcoin holdings are now worth over $16 billion, and the company has made approximately $6.1 billion in profit from its Bitcoin investments. Michael Saylor, the CEO of MicroStrategy, continues to be a major proponent of Bitcoin. The initial $700 million offering was increased due to strong demand. MicroStrategy now owns 1.25% of all Bitcoin in the current market.