#MicroStrategу , a company known for its significant focus on cryptocurrency investments, has made another major acquisition of Bitcoin. This time, the firm bought #bitcoin worth $460 million at a price of $61,750 per bitcoin. With this move, MicroStrategy continues to strengthen its position in the cryptocurrency market and follow its long-term strategy of accumulating Bitcoin.

Financial Details of the Purchase

MicroStrategy also announced that it raised $1.01 billion through an upsized offering of convertible bonds. These bonds carry a coupon interest of 0.625% and offer a 40% conversion premium. While the company outlined how it plans to use these funds in an official press release, CEO Michael #Saylor had already revealed the plan to make a massive Bitcoin purchase.

 According to available information, MicroStrategy acquired a total of 7,420 bitcoins for $458.2 million, averaging $61,750 per bitcoin. Through this move, the company achieved a quarter-to-date Bitcoin yield of 5.1% and a year-to-date yield of 17.8%.

 

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 Current BTC Holdings of MicroStrategy

As of September 19, 2024, MicroStrategy holds a total of 252,220 bitcoins, which it acquired for approximately $9.9 billion. The average price per bitcoin for these purchases was around $39,266. This step further confirms the company’s trust in Bitcoin’s future growth and importance.

 Offering Increase and Company Profit

Interestingly, MicroStrategy initially aimed to raise $700 million. However, due to increased interest, they managed to secure over $1 billion, enabling a larger Bitcoin purchase. This increase was first announced on September 17 and has since become one of the most discussed corporate investment strategies in the cryptocurrency space.

 Value of Holdings and Profits

The current value of MicroStrategy’s total Bitcoin holdings is around $15.8 billion. This means the company is sitting on potential paper profits of about $6 billion, representing a 60% increase compared to its original investments. This development puts MicroStrategy in a strong position within the cryptocurrency market, validating its long-term investment strategy.

 MicroStrategy continues to establish itself as one of the largest corporate holders of Bitcoin in the world, and its long-term cryptocurrency investment strategy is garnering attention and discussion in both the tech and financial sectors.

 Notice:

,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“