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MicroStrategy Completes $800M Note Offering, More Bitcoin on the Horizon

Key Takeaways

  • MicroStrategy completed an $800 million convertible notes offering to increase its Bitcoin holdings;
  • The net proceeds from the notes, after expenses, totaled $786 million, which were used to buy 11,931 additional Bitcoins;
  • As of June 20, MicroStrategy holds 226,331 BTC.
MicroStrategy Completes $800M Note Offering, More Bitcoin on the Horizon

MicroStrategy, the largest corporate holder of Bitcoin (BTC)has successfully raised $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.

After deducting buyer discounts, commissions, and estimated offering expenses, the net proceeds of the note sale amounted to approximately $786 million.

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MicroStrategy plans to use these net proceeds primarily for purchasing additional Bitcoin and for other general corporate purposes. 

In addition to this announcement, the company disclosed that it had additionally bought 11,931 Bitcoins for $786 million, funded by the proceeds of the note sale and surplus cash. This purchase was made at the price of around $65,883 per Bitcoin.

With the latest purchase, MicroStrategy's total Bitcoin holdings have now reached 226,331 BTC, accumulated for a total of roughly $8.33 billion at an average price of $36,798 per Bitcoin.

This purchase highlights MicroStrategy's commitment to its Bitcoin strategy, illustrating its confidence in the cryptocurrency's future and positioning the company as a prominent player in the crypto market.

In other news, MicroStrategy and its CEO, Michael Saylor, have recently settled a tax evasion lawsuit for $40 million.

Aaron S. , Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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