In a curious twist of fate, mere hours after the grand announcement of a $2 billion convertible note offering, the illustrious Strategy—once known as MicroStrategy—decided to indulge in a little retail therapy, purchasing Bitcoin for the very same sum. Ah, the irony! 🎭
And so, the company’s treasure trove of Bitcoin swelled to a staggering 499,000 BTC. One might wonder if they are hoarding digital gold or simply collecting shiny rocks. 🪨
“Strategy has acquired 20,356 BTC for approximately $1.99 billion at a delightful price of $97,514 per Bitcoin, achieving a BTC yield of 6.9% for the year 2025. As of February 23, 2025, we hold 499,096 $BTC, acquired for a princely sum of $33.1 billion at an average of $66,357 per Bitcoin.”
— Michael Saylor (@saylor) February 24, 2025
With this latest acquisition, the former CEO, Michael Saylor, has ensured that the largest corporate Bitcoin holder now possesses 499,096 BTC, a collection amassed for a staggering $33.1 billion. One can only imagine the sleepless nights spent pondering the wisdom of such investments. 😴
In light of the current cryptocurrency market, Strategy’s holdings are now valued at a dizzying $47.4 billion, placing the company in a rather enviable position of a $14 billion paper gain. If only paper gains could pay the bills! 🧾
This extravagant purchase was revealed shortly after the company raised $2 billion through convertible notes, offering a 0% coupon and a 35% premium, with an implied MSTR strike price of $433.43. A masterstroke of financial wizardry, or a gamble at the roulette table? 🎰
Meanwhile, the firm’s shares have taken a nosedive, plummeting over 12% in the past five days. They are down 16.5% since last month, yet miraculously up by 105% over the past six months. A rollercoaster ride that would make even the bravest investor dizzy! 🎢
As for Bitcoin, it too struggles to find its footing, having dipped below $96,000 earlier today and teetering on the brink of falling beneath $95,000 for the first time since last week’s crash. A true testament to the volatility of this digital frontier! 📉
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2025-02-24 17:57