The company purchased 7,420 bitcoin between September 13 and 19 for at an average price of $61,750.
The firm upsized this week's convertible note offering to $1.01 billion principal amount from $700 million, and used the proceeds for the BTC acquisition.
Nasdaq-listed software company MicroStrategy (MSTR) said Friday that it purchased 7,420 bitcoin {{BTC}} for about $458.2 million using the proceeds of its debt offering. The acquisition happened between Sept. 13 and 19 at an average BTC price of approximately $61,750.
The company increased its convertible note issuance that concluded Thursday to $1.01 billion from the $700 million principal offering announced earlier this week, according to a Friday filing to the U.S. Securities and Exchange Commission.
The company, led by Executive Chairman Michael Saylor, has been a pioneer for bitcoin adoption as a corporate treasury asset, and has become the largest corporate holder of BTC since it started buying in 2020. With the latest purchase, the firm now holds 252,220 bitcoin worth nearly $16 billion at current prices, acquiring at an average BTC price of $39,266 for a total cost of $9.9 billion.
MicroStrategy's shares were down 1.5% from Thursday's market closing price, with U.S. equity indices and BTC also sliding lower.
Other public companies such as Semler Scientific, miner Marathon Digital and Japanese investment adviser Metaplanet recently have followed MicroStrategy's footprints to issue debt to accumulate BTC.
Read more: Maximizing Bitcoin per Share: A New Corporate Strategy
James van Straten contributed to the reporting.
