MicroStrategy Bitcoin Holdings Now Hits 205,000 BTC With Latest Purchase

Key Points:

• MicroStrategy, led by CEO Michael Saylor, acquired an additional 12,000 Bitcoins, totaling 205,000 BTC and valued at $6.91 billion.
• The purchase, funded by convertible senior notes and excess cash, follows a previous acquisition of 3,000 Bitcoins worth $155 million.
• MicroStrategy Bitcoin holdings underscore its bullish outlook on Bitcoin, which has surged to an all-time high of around $72,000.

MicroStrategy, under the leadership of CEO Michael Saylor, has once again made a significant move in the cryptocurrency market.

MicroStrategy Bitcoin Holdings Boosted with $821.7 Million Acquisition

The business intelligence firm announced its acquisition of an additional 12,000 Bitcoins, amounting to approximately $821.7 million. With this purchase, MicroStrategy Bitcoin holdings have surged to 205,000 BTC, valued at around $6.91 billion.

MicroStrategy Bitcoin holdings now surpass those of the largest BlackRock‘s spot Bitcoin exchange-traded fund, which stands at 197,943 BTC. The latest Bitcoins were acquired between Feb. 26 and Mar. 10, 2024, at an average price of about $68,477 per Bitcoin, including fees and expenses.

Cryptocurrency Surge Propels MicroStrategy’s Bold Investment Strategy

MicroStrategy funded this purchase using $781.1 million from the proceeds of a recent private offering of convertible senior notes, along with $40.6 million of excess cash. Notably, this follows a previous acquisition of 3,000 Bitcoins worth $155 million on February 26.

The convertible notes, used to finance the latest purchase, are characterized as unsecured, senior obligations of the company. They carry a semi-annual interest payment schedule starting September 15, 2024, with a maturity date set for March 15, 2030, albeit with conditions for earlier repurchase, redemption, or conversion.

The company’s strategy to accumulate Bitcoins at every opportunity underscores its bullish outlook on the cryptocurrency despite its volatile nature. MicroStrategy’s move comes amid a surge in the price of Bitcoins, which recently reached around $72,000, marking a new all-time high.