MicroStrategy acquires another 7,420 bitcoin for $458 million, taking holdings to 252,220 BTC
Quick Take
- MicroStrategy has purchased another 7,420 BTC for approximately $458.2 million at an average price of $61,750 per bitcoin.
- The latest acquisitions come amid MicroStrategy’s completion of a $1.01 billion upsized convertible notes offering.
Business intelligence firm and corporate bitcoin holder MicroStrategy acquired an additional 7,420 BTC for approximately $458.2 million at an average price of $61,750 per bitcoin between Sept. 13 and Sept. 19, according to an SEC filing on Friday.
The company now holds 252,220 BTC, worth roughly $15.8 billion. MicroStrategy’s total holdings were bought at an average price of $39,266 per bitcoin, a total cost of around $9.9 billion, including fees and expenses, according to the company's founder and executive chairman, Michael Saylor.
MicroStrategy completes $1 billion upsized offering
The announcement follows earlier news on Friday of MicroStrategy completing an upsized $1.01 billion private offering of convertible senior notes due 2028, with a 0.625% coupon and a 40% conversion premium.
As the company confirmed earlier this week, it planned to use the proceeds to fully redeem its $500 million senior secured notes due 2028, expected to be completed on Sept. 26, and to use any balance of the net proceeds “to acquire additional bitcoin and for general corporate purposes.” Upon redemption, the collateral securing these notes, including approximately 69,080 BTC valued at $4.4 billion, will be released, the firm stated in the filing.
MicroStrategy’s latest bitcoin purchase follows its acquisition of 18,300 BTC for $1.1 billion between Aug. 6 and Sept. 12.
MicroStrategy’s share price remains flat in pre-market trading on Friday morning, down 0.3% at $144.26, according to TradingView. The stock is up 3.5% over the past month and 108.9% year-to-date.
MSTR/USD price chart. Image: TradingView.
Bitcoin is currently trading for $62,940, according to The Block's bitcoin price page, down 0.5% over the past 24 hours.
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