đ Big News:đ€Ż MicroStrategy Buys $1.11 Billion of Bitcoin! đ
MicroStrategy has acquired another 18,300 BTC worth $1.11 billion.
The net BTC holding of the firm has increased to 244,800 BTC worth $9.45 billion
MSTR stock price jumped slightly and BTC price cotntinues to trade sideways.
The business intelligence company MicroStrategy on Friday said it has acquired 18,300 BTC worth $1.11 billion, according to a filing with the US SEC. The companyâs net BTC holding has increased to 244,800 BTC worth $9.45 billion, revealed Michael Saylor, executive chairman of the firm. This is one of the largest Bitcoin purchases by the firm.
CryptoGames
MicroStrategy recently announced BTC buy of 11,931 from a $800 million private offering of convertible senior notes. The company said it intended to use the proceeds primarily to purchase additional Bitcoin, aligning with its ongoing strategy of leveraging debt to expand its cryptocurrency holdings. Meanwhile, the convertible senior notes are unsecured and senior, meaning they rank higher in claim priority over other debt but lack collateral backing.
In a major move signaling strong confidence in cryptocurrency, MicroStrategy has just announced its purchase of $1.11 billion worth of Bitcoin. This substantial acquisition has caused a significant surge in MicroStrategyâs stock, MSTR, which is jumping in value as investors react to the news.
Key Highlights:
- Purchase Amount: $1.11 billion in Bitcoin
- Impact on Stock:MSTR stock sees a notable increase
- Market Sentiment: Positive reaction as investors align with MicroStrategyâs bullish stance on Bitcoin
This bold investment underscores MicroStrategy's commitment to cryptocurrency and may set a precedent for other companies considering similar strategies.
