MicroStrategy Now Holds 1% Of All Bitcoin In Existence
On Tuesday, MicroStrategy announced the acquisition of an additional 9,245 BTC for approximately $623.0 million, using proceeds from convertible notes and excess cash. This purchase brings the company’s total holdings to 214,246 BTC.
This figure represents more than 1.0% of the total 21 million Bitcoin that will ever exist, marking a significant milestone for both MicroStrategy and the community at large.
Michael Saylor, the CEO of MicroStrategy, shared the news on X (formerly Twitter), stating, “MicroStrategy has acquired an additional 9,245 BTC for ~$623.0M using proceeds from convertible notes & excess cash for ~$67,382 per
#bitcoin. As of 3/18/24, MSTR hodls 214,246 BTC acquired for ~$7.53B at average price of $35,160 per bitcoin.”
The funding for this significant acquisition came from a private offering of convertible senior notes, which concluded with an upsized aggregate principal amount of $603.75 million. This offering attracted substantial interest, leading to an oversubscription and the exercise of an option by initial purchasers to buy an additional $78.75 million worth of notes.
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