MicroStrategy Raises $800 Million, More Bitcoin Raising Soon
MicroStrategy, the largest holding company of Bitcoin (BTC), To further increase BTC holdings, we successfully raised $800 million through convertible bonds.
The company announced this on June 20th. Completed issuance of 2.25% convertible senior bonds Maturity in 2032.
After deducting buyer discounts, commissions and estimated offering costs; The net proceeds from the sale of the notes amounted to approximately $786 million.
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MicroStrategy plans to primarily use these net proceeds. For purchasing additional Bitcoin and for other general corporate purposes.
In addition to this announcement, the company also disclosed the following: additionally 11,931 Bitcoins were purchased for $786 million. It is funded by proceeds from bond sales and surplus cash. This purchase was made at a price of approximately $65,883 per Bitcoin.
With recent purchases, MicroStrategy Total Bitcoin holdings have now reached 226,331 BTC. The average price per Bitcoin is $36,798, for a total cumulative value of approximately $8.33 billion.
This purchase highlights MicroStrategy’s commitment to its Bitcoin strategy, demonstrates confidence in the future of cryptocurrencies, and positions the company as a prominent player in the cryptocurrency market.
In other news, MicroStrategy and CEO Michael Saylor recently settled a $40 million tax evasion lawsuit.
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