MicroStrategy, the leading corporate holder of Bitcoin (BTC), made a significant announcement on June 20th, revealing the acquisition of an additional 11.931 BTC tokens at a whopping $786 million investment. The news was disclosed through a press release that was issued today.
Following this recent purchase, MicroStrategy’s total Bitcoin holdings have now surged to 226.331 tokens, valued at approximately $15 billion based on the current price of around $66,000. Back in April, the company held 214.400 tokens of the popular cryptocurrency.
The purchase of MicroStrategy’s Bitcoin tokens was made at an average price of $36,798 per token, totaling around $8.33 billion. Michael Saylor, the company’s executive chairman, emphasized that the additional bitcoins were acquired using funds from convertible notes amounting to approximately $786 million.
On Twitter, Saylor shared the details, stating, “MicroStrategy has acquired an additional 11,931 BTC for roughly $786.0 million using proceeds from convertible notes and excess cash at around $65,883 per bitcoin. As of June 20, 2024, $MSTR holds 226,331 $BTC purchased for about $8.33 billion at an average price of $36,798 per bitcoin.”
The current Bitcoin price stands at $64,795.62 at the time of writing, showing no significant changes in the past 24 hours.
In a move that underscores the increasing confidence in cryptocurrencies, MicroStrategy previously announced plans on June 13th to raise $500 million for a new Bitcoin purchase. This funding would be raised through an offering of convertible senior notes, with an option for an additional $75 million. MicroStrategy, a business intelligence company, holds a significant amount of Bitcoin tokens in its corporate reserves.
According to the official statement from MicroStrategy, the convertible senior notes, subject to market conditions and other factors, are set to mature in 2032. The company intends to offer these notes in a private offering to qualified institutional investors.
Please note that the opinions expressed in this article are solely for informational purposes and do not constitute financial or investment advice. Investing or trading in cryptocurrencies carries a risk of financial loss.
In other news, a trading giant has been making significant purchases during dips in the market, with investments totaling $20 million in two cryptocurrencies. Additionally, there have been predictions suggesting that Bitcoin could reach $1 million by 2025-2033.