MicroStrategy, the leading corporate holder of Bitcoin, has once again made headlines by successfully raising $800 million through convertible notes to further increase its BTC holdings. The company announced on June 20 that it had completed its offering of 2.25% convertible senior notes due in 2032, with net proceeds of approximately $786 million after deducting expenses.
This latest fundraising effort will primarily be used by MicroStrategy to purchase additional Bitcoin and for other general corporate purposes. In a bold move, the company also revealed that it had recently acquired 11,931 Bitcoins for $786 million, funded by the proceeds of the note sale and surplus cash, at a price of around $65,883 per Bitcoin.
With this latest purchase, MicroStrategy’s total Bitcoin holdings now stand at 226,331 BTC, valued at roughly $8.33 billion at an average price of $36,798 per Bitcoin. This significant increase in holdings further solidifies MicroStrategy’s commitment to its Bitcoin strategy and showcases its confidence in the future of the cryptocurrency market.
In addition to its financial moves, MicroStrategy and its CEO, Michael Saylor, recently settled a tax evasion lawsuit for $40 million, further demonstrating the company’s dedication to compliance and transparency in its operations.
With a strong focus on digital currencies and blockchain technology, MicroStrategy continues to position itself as a key player in the crypto market, with a clear vision for the future of finance and investment.
