MicroStrategy Buys Another 12,000 BTC
MicroStrategy has raised $800 million through a private offering of senior unsecured convertible notes with an interest rate of 0.625% per annum.
The firm also used excess cash to acquire 12,000 BTC, bringing its total holdings to over 200,000 BTC. The announcement follows the firm’s announcement of raising $600 million through convertible notes to expand its BTC reserves.
The net proceeds from the offering reached $782 million after deducting initial purchasers’ discounts, commissions, and estimated offering expenses.
The firm also acquired an additional 12,000 BTC for just shy of $822 million, bringing its total stash to 205,000 BTC, bought at an average price of $33,706 per one. With Bitcoin’s current price tag of over $71,000, MicroStrategy’s BTC unrealized profit is around 2x.
(With inputs from Shikha Singh)
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