MicroStrategy Buys 12000 BTC for $821 Million, Owns 205K BTC
"MicroStrategy has acquired an additional 12,000 BTC for ~$821.7M using proceeds from convertible notes and excess cash for ~$68,477 per bitcoin. As of 3/10/24, MicroStrategy hodls 205,000 BTC acquired for ~$6.91B at average price of $33,706 per bitcoin," announced Michael Saylor.
- "As previously disclosed, on March 8, 2024, MicroStrategy Incorporated completed a private offering of convertible senior notes. Net proceeds from the Offering to MicroStrategy totaled approximately $782.0 million," MicroStrategy revealed in a filing.
"On March 11, 2024, MicroStrategy announced that, during the period between February 26, 2024 and March 10, 2024, MicroStrategy acquired approximately 12,000 bitcoins for approximately $821.7 million in cash, using $781.1 million of proceeds from the Offering and $40.6 million of Excess Cash (defined in our annual report on Form 10-K for the fiscal year ended December 31, 2023), at an average price of approximately $68,477 per bitcoin, inclusive of fees and expenses."
- "As of March 10, 2024, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 205,000 bitcoins, which were acquired at an aggregate purchase price of approximately $6.91 billion and an average purchase price of approximately $33,706 per bitcoin, inclusive of fees and expenses."
MicroStrategy has acquired an additional 12,000 BTC for ~$821.7M using proceeds from convertible notes & excess cash for ~$68,477 per #bitcoin. As of 3/10/24, $MSTR hodls 205,000 $BTC acquired for ~$6.91B at average price of $33,706 per bitcoin. https://t.co/YayyKtpz8d
— Michael Saylor⚡️ (@saylor) March 11, 2024
- With this purchase, MicroStrategy again surpassed the BlackRock iShares Bitcoin ETF (IBIT) which has accumulated as much bitcoin as MicroStrategy in less than two months of existence. Per CoinDesk, the fund held 195985 BTC on Friday.
