- 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.
On Thursday, the company expanded the amount of their convertible notes they are issuing to a total of $1.01 billion, which is an upgrade from the initial $700 million offering they announced earlier this week. This information was disclosed in a filing made to the U.S. Securities and Exchange Commission on Friday.
Under Michael Saylor’s leadership, the company has been a trailblazer in using bitcoin as a corporate investment, amassing the most significant Bitcoin holdings among corporations since it began purchasing in 2020. With its recent acquisition, the firm now owns approximately 252,220 Bitcoins, currently valued at around $16 billion. The company has acquired these Bitcoins on average for $39,266 each, totaling a cost of approximately $9.9 billion.
In my analysis, I noticed that MicroStrategy’s shares experienced a decrease of approximately 1.5% since the market closed yesterday. Simultaneously, U.S. equity indices and Bitcoin have also seen a drop in their values.
More public companies like Semler Scientific, miner Marathon Digital, and the Japanese investment firm Metaplanet have been imitating MicroStrategy by borrowing funds to purchase Bitcoin.
James van Straten contributed to the reporting.
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2024-09-20 17:33