$BTC Price Update Impact of Recent Events
MicroStrategy's acquisition of 11,931 BTC, raising its holdings to 226,331 BTC, initially pushed Bitcoin's price to $66,000. However, the German government’s sale of over 2,000 BTC caused a price correction, dropping it back to $64,000. MicroStrategy funded its purchase through an $800 million convertible note offering, with notes bearing a 2.25% annual interest rate, payable starting December 15, 2024.
Key Points
- MicroStrategy: Acquired 11,931 BTC.
- Price Impact: Peaked at $66,000, then corrected to $64,000.
- German Government: Sold 2,000 BTC.
