Michael Saylor’s Microstrategy has ramped up its stash of Bitcoin assets by purchasing an additional 7,420 Bitcoin worth $458 million.
Microstrategy which is currently the largest public holder of bitcoin announced that it has completed its $1 billion convertible senior notes offering and a bulk of the money realized will go into the acquisition of Bitcoin.
“MicroStrategy today announced that, on September 19, 2024, it completed its previously announced offering of 0.625% convertible senior notes due 2028 (the “notes”).
The aggregate principal amount of the notes sold in the offering was $1.01 billion, which includes $135 million aggregate principal amount of notes issued pursuant to an option to purchase, within a 13-day period beginning on, and including, the date on which the notes were first issued, granted to the initial purchasers under the purchase agreement, which the initial purchasers exercised in full on September 18, 2024 and which additional purchase was completed on September 19, 2024.
The notes were sold in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). ”
Microstrategy raised over $1 billion from the deal with the sole aim of using them to acquire more Bitcoin. Hours later, Michael Saylor founder and chairman of Microstrategy announced that the firm has completed the acquisition of 7,420 Bitcoin assets worth about $458 Million.
“MicroStrategy has acquired 7,420 BTC for ~$458.2 million at ~$61,750 per #bitcoin and has achieved BTC Yield of 5.1% QTD and 17.8% YTD. As of 9/19/2024, we hodl 252,220 $BTC acquired for ~$9.9 billion at ~$39,266 per bitcoin. $MSTR”, Saylor Tweeted.
Data pulled from MicroStrategy’s filling to the United States Securities and Exchange Commission revealed that Microstrategy acquired the Bitcoin assets at $61,750 per BTC. The firm through its chairman also revealed that it has hit a a total BTC yield of 5.1% quarter-to-date and 17.8% year-to-date.
252,220 BTC Assets
Microstrategy’s latest acquisition takes its tally of Bitcoin assets to 252,220. The firm remains the largest holder of Bitcoin and the chairman revealed that he has about $1 billion worth of personal BTC assets.
What to Know
- Michael Saylor’s Microstrategy acquired its first bitcoin in 2020 and the company has spent approximately $9.9 billion in acquiring Bitcoin since 2020.
- The average acquisition cost for all Microstrategy’s Bitcoin assets stands at $39,266 per Bitcoin meaning the company is sitting on an $5.9 billion unrealized profit.
- Michael Saylor was one of the Keynote speakers in the famous Bitcoin Conference in Nashville where he argued about the unique nature of digital assets and its many advantages over physical assets.
