MicroStrategy continues to chase bitcoin. The company has set new goals for itself.
#MicroStrategy recently formed an initiative to strengthen its #bitcoin mission.
MicroStrategy, a U. S. technology company and the world's largest public holder of bitcoin (BTC), has been relentlessly buying shares all year; since creating its bitcoin portfolio in August 2020, MicroStrategy has taken the opportunity to expand its holdings. The company is known for rarely missing an opportunity and constantly coming up with innovative approaches to acquiring crypto giants.
Even with a billion-dollar portfolio ready to go, the company has no intention of slowing down.
the recently released MicroStrategy financial results for Q2 2024 revealed the company's bitcoin strategy, both its achievements to date and future ambitions. According to the documents, the company owns 226,500 #BTC , which is worth about $15 billion at current exchange rates.
The total number of bitcoins purchased in the second quarter was 12,222, including 11,900 BTC announced in early June. The total value of BTC purchases in the second quarter was US$805.2 million and the average price per BTC unit was US$BTC Andrew Kang, MicroStrategy's CFO, emphasized that these purchases were supported by recent successful capital raises.
During the second quarter, we successfully raised an additional $800 million through the #issuance of 2.25% convertible senior notes due 2032 and announced the repurchase of $650 million of convertible senior notes due 2025. Since the beginning of the second quarter, we have increased our bitcoin holdings, adding 12,222 bitcoins through proceeds from capital market activities and free funds, B-he said.
Looking ahead, Mr. Kang confirmed that the company is planning further expansion:
"We are actively managing our equity capital and preparing to launch a new US$2 billion capital market offering program.
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