MicroStrategy acquires an additional 11,931 BTC
MicroStrategy, a business intelligence and software company, has acquired an additional 11,931 BTC (Bitcoin) for $786 million. This follows a private offering of convertible senior notes (a form of bonds that are convertible into stock) on June 18 that raised $800 million with a coupon (interest rate) of 2.25% and a conversion premium of 35% above the average price of MicroStrategy's Class A common stock (shares with voting rights). The net amount of approximately $786 million was used to purchase Bitcoin.
Details on buying Bitcoin
The company disclosed that the bitcoins were acquired at an average price of approximately $65,883 per bitcoin – including fees and expenses – between April 27, 2024 and June 19, 2024.
MicroStrategy’s Bitcoin Investments
MicroStrategy began its Bitcoin investments in August 2020 with an initial investment of $250 million. As of June 20, 2024, the company and its subsidiaries hold approximately 226,331 Bitcoins valued at over $14.9 billion, purchased at a total cost of approximately $8.33 billion, representing an average of $36,798 per Bitcoin, including fees and expenses.
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