- MicroStrategy went on another Bitcoin buying spree.
- The company purchased convertible senior notes after completing a private offering.
- The latest acquisition pushes MicroStrategy’s Bitcoin treasury to a key level.
Michael Saylor’s business intelligence firm MicroStrategy now holds about 1% of the entire 21 million Bitcoin supply following its latest purchase, valued at over half a billion.
MicroStrategy’s latest Bitcoin buying spree comes when the world’s largest crypto asset has lost 12.66% of its value in the last seven days, sparking pre-halving danger zone concerns. At last check, BTC had witnessed an intraday decline of 6.6% and was trading at $63,205, CoinMarketCap data shows.
MicroStrategy Buys Additional 9,245 BTC
Per a Tuesday filing, MicroStrategy acquired an additional 9,245 Bitcoins between March 11 and March 18 at an average price of approximately $67,382 per BTC, including fees and expenses, bringing the total acquisition cost to approximately $623 million.
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Of the $623 million, $592.3 million came from the proceeds of a recent private offering of convertible senior notes. In comparison, $30.7 million constituted excess cash, as defined in the company’s Form 10-K for the fiscal year ended December 31, 2023.
With the latest purchase, MicroStrategy and its subsidiaries now hold about 214,246 bitcoins, equivalent to over 1% of the entire BTC supply.
According to the filing, these bitcoins were bought at an average total price of $7.53 billion, translating to about $35,160 per BTC, including fees and expenses.
Read about MicroStrategy’s previous Bitcoin buy:
MicroStrategy Bitcoin Bag Nears Key Milestone with $822M Buy
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