As a seasoned crypto investor with a keen interest in MicroStrategy, I’m thrilled to witness the company’s unwavering commitment to Bitcoin (BTC). With this latest acquisition of 11,931 BTC worth $786 million, MicroStrategy now holds a staggering 226,331 BTC, valued at over $8.3 billion.
As a researcher studying the financial markets, I can tell you that MicroStrategy, a prominent business intelligence software company listed on NASDAQ and led by Michael Saylor, has recently made another significant purchase of Bitcoin to the tune of approximately $800 million.
As an analyst, I’d rephrase it this way: Just a few days ago, the firm announced its plans to secure around $500 million (later upped to $700 million) for purchasing Bitcoin.
Last week, CryptoPotato announced that MicroStrategy was intending to secure $500 million by issuing convertible senior notes with a maturity date in 2032.
A little over a week ago, the corporation increased its original fundraising goal by nearly half to $700 million. This move suggests that they plan to utilize the raised funds for purchasing more bitcoin and various business expenses.
This morning, Michael Saylor, the founder and ex-CEO of the company, made an announcement on X platform that the Bitcoin purchase had been finalized by the firm.
I analyzed the financials of the company and found that they raised an additional $700 million through debt. Furthermore, they utilized excess cash to purchase a total of 11,931 Bitcoin for approximately $786 million. This equates to an average price of around $66,000 per Bitcoin.
MicroStrategy has acquired an additional 11,931 BTC for ~$786.0M using proceeds from convertible notes & excess cash for ~$65,883 per #bitcoin. As of 6/20/24, $MSTR hodls 226,331 $BTC acquired for ~$8.33B at average price of $36,798 per bitcoin.
— Michael Saylor (@saylor) June 20, 2024
As a crypto investor, I’d put it this way: My recent investment in Bitcoin has brought MicroStrategy’s holdings up to an impressive 226,331 coins, valued at approximately $8.3 billion. This massive accumulation translates to an unrealized profit of over $6.6 billion for the firm.
As a researcher studying the stock market trends, I find MicroStrategy’s share performance intriguing this year. The recent announcement of their acquisition of Bitcoin adds another layer of excitement to observe the potential impact on their share prices.
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2024-06-20 15:54