MicroStrategy Surpasses 1% of Total BTC Supply Milestone Using Proceeds of Yet Another $600M Convertible Note Offering
"MicroStrategy has acquired an additional 9,245 BTC for ~$623.0M using proceeds from convertible notes a d excess cash for ~$67,382 per bitcoin. As of 3/18/24, MSTR hodls 214,246 BTC acquired for ~$7.53B at average price of $35,160 per bitcoin," announced the company's Chairman Michael Saylor.
- "During the period between March 11, 2024 and March 18, 2024, MicroStrategy acquired approximately 9,245 bitcoins for approximately $623.0 million in cash, using $592.3 million of proceeds from the Offering and $30.7 million of Excess Cash."
- "As of March 18, 2024, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 214,246 bitcoins, which were acquired at an aggregate purchase price of approximately $7.53 billion and an average purchase price of approximately $35,160 per bitcoin, inclusive of fees and expenses," was stated the filing.
- MicroStrategy has recently started calling itself as 'the world's first Bitcoin Development Company' but some are pointing out that the company is yet to contribute to Bitcoin code or support Bitcoin network contributors.
