On March 19, 2024, MicroStrategy once again increased its Bitcoin portfolio, this time with the purchase of 9,245 BTC worth $623 million. This investment follows closely on the acquisition of 12,000 BTC the previous week, underlining the company’s and Michael Saylor’s ongoing commitment to Bitcoin.
MicroStrategy now owns 214,246 Bitcoins
This Tuesday, March 19, 2024, Michael Saylor revealed MicroStrategy’s new acquisition of 9,245 Bitcoins, representing an investment of $623 million.
This comes barely a week after their previous purchase of 12,000 BTC.
MicroStrategy has acquired an additional 9,245 BTC for ~$623.0M using proceeds from convertible notes & excess cash for ~$67,382 per bitcoin As of 3/18/24, $MSTR hodls 214,246 $BTC acquired for ~$7.53B at average price of $35,160 per bitcoin. https://t.co/oeYJGgiuy0
– Michael Saylor⚡️ (@saylor) March 19, 2024
Since 2017, MicroStrategy has invested $7.53 billion to accumulate 1.1% of the total supply of Bitcoins in circulation, or 214,246 BTC at an average acquisition cost of $35,160 per unit.
At the current Bitcoin price, MicroStrategy owns nearly $14 billion in BTC, equivalent to a capital gain of $6.47 billion.
As a reminder, on Friday March 15, 2024, MicroStrategy launched an offering of $525 million in convertible bills, with an annual interest rate of 0.875% and a maturity date of 2031. The offering was aimed exclusively at qualified institutional investors.
The bills represent obligations of MicroStrategy, and offer interest at 0.875% per annum, payable semi-annually. They also offer the possibility of conversion into cash, MicroStrategy shares, or a combination of both.
According to today’s press release, the sale generated over $600 million. These funds were used to increase the company’s Bitcoin reserves and meet general corporate needs.
