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MicroStrategy Acquires 12,000 More BTC With Convertible Senior Notes Proceeds
The software firm, founded by staunch bitcoin advocate Michael Saylor, now holds 205,000 BTC worth around $14.7 billion
MicroStrategy (MSTR) has purchased 12,000 more bitcoin (BTC), mostly funded by the $782 million raised from its recent convertible deft offering.
The software firm, founded by staunch bitcoin advocate Michael Saylor, now holds 205,000 BTC worth around $14.7 billion. MicroStrategy acquired its latest batch of BTC for ~$68,477 per coin, Saylor said in a post on X on Monday. In total, the company acquired the bitcoin for $821.7 million, using the proceeds from the debt raise and excess cash.
STORY CONTINUES BELOW
MicroStrategy last week announced that it was looking to raise $600 million for the purchase of more bitcoin through the sale of convertible senior notes at an interest rate of 0.625% per annum. The company subsequently increased the target to $700 million.
Shares of MicroStrategy were up nearly 10% at $1,560 in pre-market trading in the wake of BTC attaining a new all-time high above $72,000 during the European morning on Monday.
Read More: Michael Saylor Not Interested in Selling: ‘Bitcoin Is the Exit Strategy'
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
